I don't think I've seen any language textbook that's arranged quite like this. It's divided into three sections: a grammar (with drills & practice exercises), conversations which are keyed to the grammar, and readings, usually 2-3 pages, adapted from various literary sources. The book is designed for self-study and includes a key to all the exercises, and the conversations and readings are presented with a parallel translation. In addition to vocabularies (including separate lists for the individual readings) and grammatical tables, the supplementary material at the end also includes some interesting lists of French proverbs and idioms.

The grammatical section is very condensed and moves rather quickly; the pace may be too swift for many learners, but for someone who has some basic knowledge of French, or who is willing to spend a lot of time at the beginning memorizing paradigms, it may be manageable. I bought this book mostly for the readings, so I haven't been using this section very much, but it seems to be clear enough and the concepts are introduced in a sensible order.

The "conversation" section consists of sets of questions and answers which might be only loosly described as conversations, as the content of most of them would normally not be uttered in any real-life interaction! An example (taken randomly from the book):
"Feraient-elles une bonne promenade si elles n'étaient pas trop fatiguées" ("Would they take a good walk if they were not too tired?")
However, at times the author seems to be aware of the slight absurdity of the textbook sentences, and there's a certain subtle humor to the text, as in the following exchange: "Non parlons-nous pas français maintenant?" "Non, nous ne parlons pas français , nous parlons chinois." ("Are we speaking French right now?" "No, we're not speaking French, we're speaking Chinese.")
Furthermore, because the conversations are organized around grammatical principles rather than themes or subjects, they provide little guidance for coping with situations such as introducing yourself, talking about the weather, going to the store, or any number of everyday occurrences. (There is a short "situational" vocabulary at the back, covering such topics as "food," "family" and "professions," but a list of nouns is not quite the same as seeing the words used in context.)
That said, although the dialogues may not be immediately useful for communicative purposes, as one might expect, the language is idiomatic and makes use of complex constructions, and the sentences are above all useful for practicing transforming questions into statements, substituting pronouns for nouns, changing positives into negatives, and so forth. As in English, the rules governing French word order are fairly complex, and skill in making these kinds of transformations is invaluable.

The readings are quite fun. They are short, fast-paced, and frequently humorous, and contain complex vocabulary and sentence structures while avoiding the long descriptive passages in which a new reader in a foreign language often bogs down. Most of the stories are not by French authors, surprisingly (the second selection is a story by O. Henry), which is rather unfortunate, as it misses an opportunity to provide a glimpse into French culture.

For the $2 I spent on this at the used book store, it was definitely worth buying even if only for the readings & practice exercises.