I hadn't read any of his long fiction since Perdido Street Station which I felt had good stuff but was a bit laboured and contrived. I've enjoyed his short fiction, notably a few lovecraftian pieces and the style has improved much since the earlier effort but the plotting is still not quite there. Perhaps he's still trying a bit too hard to bring everything together when you don't always need to do so (see MJ Harrison for the opposite approach).
But it kept me busy on the train for a couple of days so I'd say read it.