Bailey's writing is remarkably engaging, but at times is absolutely cracked. On several occasions, I stared in bewilderment at the page wondering how exactly parts of this were published. Bailey simply can't resist making a quip here and there, and on occasion are so jarring that they actually distract from the course material. Real Econometrics doesn't function particularly well as a reference guide either, though it most certainly isn't written as one.
Despite this, however, Real Econometrics is extremely well-presented and well-written, and I would recommend it for any introductory econometrics course. Overall, this textbook is a good introduction to economic research, if perhaps a little shocking at times. One star is deducted for the absence of an ebook or pdf version.