This is a generally decent standalone core book for Elric under the RQ system. System wise it fixes some of the glaring holes to be found in RQ. Flavour wise it is good at capturing the feel of the books and, arguably, is more true to the source material than Chaosium's earlier versions.
It's decently laid out and pretty comprehensive though, as with so many Mongoose products, it lacks that final polish that would take it from good to outstanding. Sometimes it is the little details that stand out, such as forgetting to give a value for Elric's skill with Stormbringer.
Overall though, this is the best use of RQ I've seen so far from Mongoose.