So, straight up, this is terrific. It's EXACTLY what I was looking for. An update to the 3.5 version that fits into 5E, with lots of room for your own setting and lore to go into.
First of all, the update to the equipment lists is great. I was dreading trying to do those myself, and here they are. All done! Ready to go! Second, the work on the races is spot on. Spiritfolk and Hengenyokai seem fun, and not incredibly unbalanced, or out of place, next to the base races of the PH. Third, the spells and feats are excellent. Clear, concise and, again, fit into 5E just right.
BUT, what I want to highlight are the classes. The work put into these is, honestly, astounding. Like, sure, if there wasn't the Races chapter, you can still "feel" like you're in an Asian-inspired setting, so long as you're doing the kind of things that mark it out. Like being a Shama, a Shugenja or a Wu-Jen. Obviously, I haven't playtested them all or anything like that. I've read 'em, and I'll be using a lot of the content in my homebrew, Asian-inspired campaign world. But just from the readthrough, I'm really happy with them, and impressed at how they just feel like they go right alongside your basic classes.
I highly recommend this to anyone thinking of buying it. At the very least there is some great design work and illustrations (as a book it looks very nice), and I do not doubt that everyone can find something of use, interest, and value in here.
Seriously, well done.