Good basic treatment of a number of topics (especially linear regression and Sweave), but in some of the later chapters it became painfully apparent that this is, as advertised, a graduate-level text. Unless you're a statistician or an economist, a lot of content will sail over your head, as it assumes you're already familiar with the statistical tests being discussed, why you'd want to do them, and what the results mean.
At the end, I decided it was time to head back and do a really thorough reading of Venables and Ripley's classic Modern Applied Statistics with S.
An easy to read, easy to follow, practical guide to R learners with econometric orientation. It explains the basic econometric analysis briefly followed by practical hands-on exercises.