[Lucas89]

I have to say i would highly recommend it in my opinion.

You just have to remember that it won't and never claims to teach you how to read Japanese.
From what i gather from reading the book is that it is only meant to help you memorize how to write and recognize characters through use of stories and keywords.

I can only talk about the first book and my experience since i am not really interested in the 2nd and 3rd books.

I can currently only recall how to write roughly 500 separate kanji from memory, but so far i have noticed it's much easier for me to learn the kanji compounds for words where i recognize the kanji and can peice together keywords that already make sense to me than those i don't.
It's not a bad thing that you don't learn the readings right away either, infact so far i've found it easier to learn this way (Yes i have attempted to learn the readings and kanji all in one go and it did not work for me - There were just simply too many readings for me to memorize at once and things like on and yumi or w/e its called readings confuse me)

For example 夢 was given the keyword "Dream" so when i saw it i already had a picture in my head of what it could mean, and so when i found out the reading to be ゆめ it was all i had to remember since i had already learned how to write it.

maybe a better example would be 外国人/外人
The keywords were:
外 - Outside
国 - Country
人 - Person

Now just because you don't know the readings it doesn't mean that you can't still get a good idea of what it could mean.
Once you have found out the reading all you have to remember is that a 外国人/外人 is an "Outside country Person/Outside Person" more simply put, a Foreigner... Simple

Anyway, i would say if you are not in a class then atleast give it a go and see how you get on.
If however you are in a class then it's probably best to just stick with whatever they give you.