As outlined in the title of this review, this book is split into two parts. 200 pages of rules-free descriptions of races and ethnicities, and 50 pages of race traits, racial traits, feats, spells, and magic items.
The first part is mostly repetitions of already published material, and reads like bland, uninspiring filler. It has absolutely none of the flair of books like Misfit Monsters Redeemed or other "XYZ Revisited". It might come in handy as a reference book, but it's not a book you need to bring to your game.
The crunch part is disappointing to say the least. The main theme is "tiny conditional modifiers". The traits mostly provide +1 or +2 skill bonuses in rare situations, and the feat sections is full of teamwork feats that let you set up teamwork situations to ...gain bonuses about on par with a regular feat.
On the positive side, the book is better edited than the ACG, and there is some love for the geniekind races. But on the whole, give this book a pass.
