I was one of probably many that, during GenCon 2002, noticed the prominent Dark Nebula ad on the back of the program. I couldn't find the booth on the map, and thus is took me two days and literally tracking a guy wearing a Dark Nebula name tag to find the place. However, the books had been held up in shipping and weren't at GenCon. As an apology, they were selling the usually $20 books for $10, with free shipping once they arrived. They were supposed to arrive the week after GenCon. I got mine in October (apparently due to more shipping issues).
In a nutshell, I'm glad I paid $10 instead of $20. But let's look deeper. The book has 13 chapters, two appendices, and an index. It is 108 pages long. It is hardback, with glossy pages and the pictures are in semi-color. (By that I mean most of the pages are in tones of brown with shading and occasional bits of black.)
One thing that was mildly irksome was the nearly excessive use of flavor text. There were probably 4-5 pages altogether of flavor text, which got annoying. One can provide a bit of flavor for a chapter without writing a short story. With this being a book focusing on magic items, and being as slim as it is, this seemed like filler a great deal of the time. Also every entry is preceded by a comment by a member of the Shadow Council (described in chapter one). This ends up adding another 2-4 lines of space, in addition to the book's typical double-spacing. The margins are slim, but this excessive white space is still filler.
Chapter 1: Introduction
This chapter is nothing more or less than a rehash of the magic chapters of the PHB and DMG. They explain things like limits on magic items worn, saving throws against magic item powers, using magic items, damaging magic items, everything. As hopefully one should have the core rulebooks, this chapter is redundant.
Chapter 2: Arms and Armor
The first batch of items here is armor qualities. Most of these are fairly good. I particularly liked Mageveil, that lets you keep your AC bonus against ranged touch attacks from spells. Others were similarly good. Most also seemed balanced, though I'd just be a smidge careful about handing out Static armor.
Next is Specific Armors. Several were very unique, including one that can merge with your body (Roughskin Hide, provides natural AC bonus), the Chainmail of the Hooked Beast, that lets you do fun things with chains, and Sunderplate, that breaks weapons that hit it.
Next is magical weapon special abilities. I liked these a great deal for the most part. Abeyance weapons could also be considered Magebane weapons (they can stop arcane casters from casting). A Morphing weapon is one that's rather useful for the fighter that doesn't want to be a walking weaponry shop. Most seem balanced, but I'd probably bump Inner Strength up at least one bonus.
Next is Specific Weapons. All in all, good (I particularly liked the Blade of Secrets. Amongst its powers, those damaged by it can't lie for a period of time. I could see this in work in a courtroom easily).
Chapter 3: Potions
Chock full of useful drinkable goodness. There's a potion that let you scry without a scrying device, Destrachan Bile that let's you make a sonic attack (similar to a potion of fire breath), one that lets you animate stone statues, and other such fun. Overall, original and useful items.
Chapter 4: Rings
More fun stuff, though this is a shorter chapter. One, the elven bone ring, while a good item for a villain, is created in such a manner that it qualifies for the Book of Vile Darkness. Two different rings allow use of different feats and skills, and one even allows some potentially excellent damage reduction. There is one, the synergy ring, that looks both confusing and pointless until you read a later chapter on synergy outfit.
Chapter 5: Rods
Mostly a good collection of abilities. Some unusual ones in this bunch, including the Rod of Burdens (that increases the weight of load, potentially getting a person up to a heavy load and garnering the hefty penalties thereof. Only useful if your DM is concerned about the encumbrance of his NPCs). One, the Wandering Idiot, doesn't describe its abilities enough to arbitrate them in-game. This would have to be errataed before being used in a game, or just guess at what's it's supposed to do for some its abilities.
Chapter 6: Staffs:
Staffs in several different themes. The ever-popular Time staff and Antimagic staff of course. Also those with themes of noise, hell, the forest, and one called Material Fulfillment (create food and water, etc). A short list, but a decent one.
Chapter 7: Wands
This chapter, despite its name, is actually a list of spells that one could make wands out of. Only 7 spells in this chapter, one that compresses things (like reduce, but different), one that interferes with ranged attackers, one that creates a fire serpent, one that creates things made out of ice (why? Major creation isn't enough?), one that makes balls of mud that interferes with movement and Dexterity, one that holds things still (not quite hold person, an Arcane Trickster could get some serious mileage out of this spell), and one that's a weakened web spell.
Chapter 8: Wondrous Items
Several interesting items, but several that need clarification. One item, the Amulet of Divine Power, lets clerics chose an additional domain to select spells, but never specifies if they get the granted domain power. Another one, the Bag of Many Fruits, lets you pick out random fruits that have several effects (anything from healing to weapons). However, several of the abilities are very obscure unless you made the bag yourself. One fruit says the seeds of it can be crushed and mixed with oil to create a "sticky substance that is very flammable" but damage for this substance is never specified. And why in the world would you think to crush fruit seeds, mix them with oil and set them on fire? Another one says you can "boil the skin and mix it with vinegar to create 1 ounce of a solution similar to universal solvent" for which you need an Alchemy check to successfully create. What the heck? Cool effect, but why in the world would that occur to you?! Other items include a bottle that will pour a liquid in defiance of gravity (possibly allowing one to set traps for flying creatures), an alchemy lab that contracts down (allowing one to set one up in a safe corner of a dungeon and stock up on acid if necessary), and vestments that add bonuses to turning damage for clerics.
Chapter 9: Magical Cultivations
This is something entirely new, mundane items combined with magical solutions and then grown to have certain effects. You can basically make your own magical creatures (or plants, or things like magical bread or gourds). It's rather strange, truth be told, but unique. A new feat, Grow Cultivation, is included. Creature cultivations include a dove that calms peoples' emotions and a bumblebee with a violently poisonous sting. The derived ones include things like bread that makes you forget, or broth that helps your Fort save against poison. Some of the plant ones include the bramblebush (think the wall of thorns around Sleeping Beauty's castle) and a lily that can tell people's alignment by changing color.
Chapter 10: Synergy Outfits
Basically, with the inclusion of a synergy ring (described in a previous chapter), and several related items, a collection of magical items can have a whole new effect. Each synergy outfit requires a laundry list of magical items. Not all of them are specific (for instance, an item might only have to provide a +1 or greater bonus to the owner's Wisdom, but as long as it does that, it qualifies). Once all gathered and attuned to the synergy ring, the wearer of these items gets an additional bonus or power. For instance, the outfit of the Devoted Faithful, once all is said and done, get some bonuses to their saving throws (and some further ones against divine spells cast by priests of gods other than the wearer). It's an interesting idea, one that probably won't come into effect until higher levels because of the number of magic items needed, but cool nonetheless.
Chapter 11: Cursed Items
For rat bastard DMs, includes things like axes that fall to pieces in battle or armor that locks up on its wearer. Also includes curses that can affect other items in a character's possession for the truly evil DM.
Chapter 12: Legendary Outfits
Like synergy outfits without the synergy ring. Think like the Regalia of Evil/Neutrality/Good. These are powerful magic items individually, all together with the synergy effects, they're basically artifacts. To be used sparingly, like as the focus of a quest.
Chapter 13: Artifacts
Powerful artifacts. Yup, that's what they are.
Appendices
Included here is something mentioned throughout the book: exceptional foci. These are items that one can use in item creation to either discount the cost of the item or increase the caster level, range, and duration. They come in minor, medium, and major grades, and in such varieties as craft, creatures, mineral, or plant. These aren't special materials, but items prepared in a certain way and added in during creation. They take months to make, which is good considering the bonuses they give. It is spelled out that this could be unbalancing, so use sparingly, if at all. I found it strange and more than slightly confusing.
The second appendix is random magic item generation charts for the items in this book.
Overall
Many unique ideas, but often very slim choices. Several items needed to be explained further or more clearly. Whitespace and overabundant flavor text abound, padding an already slim book. At $10, I got what I paid for. Unless you really like the ideas of exceptional foci, synergy outfits, or magical cultivations, I would perhaps make this a group purchase rather than a individual one.