This is a great, but little known book of Palladium's history. The game itself is very much a sandbox, basically a modern world with monsters, psychics, and magic spells thrown on top. It can be run for horror, high adventure, or laughs.
That doesn't mean the book leaves a game master with too many options and no direction. Erick Wujcik wrote an excellent little section on how to run a horror game. Four short adventures in back run the gambit of silly introductory games to deadly monster invasions. Experienced players of other Palladium games will like it because there are huge sections (over twenty pages each) on ley lines and equipment.
The "megaversal rules system" is typical of Palladium in the early nineties, much like the rules in Palladium Fantasy 2nd edition or Rifts 1st edition. The megaversal rules tend to garner very strong opinions in a love them or leave them sort of way. Actually, it's some rather standard stuff that most any player will find familiar -- roll 3D6 for attributes, roll a twenty-sider to hit something, etc. The downside is that there is a fair amount of jargon here that might intimidate new players. For example, Potential Psychic Energy which is a power source for magic and Inner Strength Points which is a power source for psionics. It should be the other way around.
I enjoyed this book on paper because it was the most flexible incarnation of the Palladium system (except arguably for Heroes Unlimited). Some of the monsters are fun and unique.
The ebook version leaves out nothing. The black & white artwork is very clear. The print is just a little on the hazy side for people who like to blow up their views to 200% or 300% of the norm for easy reading.