Launch presents some highly useful and extremely practical information for launching a very specific type of church. Within that context, it was pretty good. The humor wasn't very humorous, it was pretty predictable and inane, but that's not what I got the book for anyway.
The big warning is that this book only has any real value if you are seeking to start up the next Saddleback/Willow Creek clone. If you're not in a major metropolitan area seeking to reach vast numbers of the young and the hip, then this will not be nearly as useful.
This is the Ray Krok school of church planting ... how to create McMegachurches in X simple steps. It's all based on the warehouse/fast food model of church that is quite prevalent and popular nowadays. However, if you're looking to plant a church which is not going to be huge, or young, or hip, then this isn't as helpful.
And if you're hoping to stick to biblical models, then this isn't helpful either.
Reading through the book would be very helpful for any church planter - even those not intending to create McMegachurches - so long as you are mature enough to not just wontonly absorb everything they say. I found some very good points and ideas in there, but it was definitely a work to separate the golden nuggets from the chicken nuggets!
Bottom line ... read it, but read it cautiously, and don't expect to just follow their formula unless you're their next "franchisee."