This is, by far, my favorite translation of the Tao Te Ching. I own a few others and they're all well and good, but this one is the one I continually read from and refer to when people ask me about the Tao.
The translation is well done, it captures the nature of the text well, and it flows fairly evenly. It's not overly flowery or ornate, it gives you the basics of what you need to understand the various entries and assist in understanding what Tao is (i.e. the the Tao named Tao is not the great, eternal Tao).
It's a book that changed my life. I learned of Taoism in a world history class in high school, and when my friends took their Philosophy 101 course at the local university this was the text they worked with. My copy came second hand from the U's bookstore and I have had it ever since. It has taught me to understand a lot of the things in the world that otherwise would baffle me and lends a lot to my own personal philosophies.
I highly recommend this book to anyone who is lost on their path through life. It doesn't have all of the answers, but it does have a LOT of perspective.