Ok, I snagged it last night and have skimmed through much of it.
First, Coda vs. d20 arguments are silly, IMO. There are elements of d20 found in Coda (and those elements are also found in games which predate d20) so people running around screaming that Coda is a d20 rip off have missed the boat, I think.
Having said that, I think Coda would be pretty inspirational for someone looking to develop a levelless d20 system, or someone looking for a more gradual advancement of characters rather than the "sudden" change inherint in levels.
The production value of the book is superb, filled with many excellent photos and graphics abounding.
I like the Coda system far more than I liked the LUG Icon rules - they seem much more intuitive and streamlined.
I will post a more detailed opinion later in the week after I've read more of it - or free to ICQ or email me if there is something specific you're wondering.