I'm looking at it right now ...
Hrm. It's B&W interior art, with a color cover. The cover is the same material, it seems, as most of my other RPG books. The paper is matte, I'd say, but not cheap feeling, just not gloss. The stiching on this one seems fine, it's held up to some pretty heavy use over the last few weeks.
I'm holding GreenRonin's Black Company Campaign Setting here. I'd say they're pretty similar. I think GTs paper, which both are matte B&W, GT's is more dense. BCCS is a thick book, though, so I think they went with a lighter weight paper to keep it from weighing a ton.
As far as being stylish goes, I've been running and playing in alot of Modern and GT games. It doesn't look out of place or like a poverty-stricken cousin sitting next to the d20Modern books. I actually like its Old Skool feel.
--fje