We used this book very little during our time in Israel as it doesn't offer much help in the way of finding anything, which is often the biggest challenge while traveling. The color pictures are certainly nice and the book reads more like a friendly news article then guidebook. Even so, I wouldn't necessarily recommend it as anything more than an informational companion to a more useful guidebook.
Insight guides give you so much more information than traditional travel guides. You really can gain an understanding of the country, culture, history, customs, politics from these books. They also do provide info on hotels, etc. but the real value of these books is in the "insight" given on the country itself.
This was an excellent introduction to a country I knew little about outside of biblical history. The photographs were beautiful and I got a good sense of the places I would visit, particularly the old walled city of Jerusalem.