This is an interesting idea. Giving you, as the GM, some extra power, and striking horrible pain and fear in your gruop's wizards, you JUST can't go wrong.
The book is broken up by schools of magic. Whichever school is most prevelent in the book, creates a type of affect, which can be chosen by the GM, or randomly rolled. It is a very simple mechanic to add to your game. Along with the burning, the book includes a couple of nice feats.
If you like crunchy, this book is all crunch. Not a lot of fluff to get in the way of the rules, which also keeps the size of it down. My suggestion, is getting a 3 ring binder, and put all of Phil's Forbidden Arcana in one binder, to make them easy to access.