If you are playing a B/X style game and embrace race-as-class then this product will be of use to you, and serves as a first release of what I hope will be a number of follow ups.
In brief, this book gives you four new Halfling racial classes so that not every PC Halfling will be forced to play the same exact class. The new racial classes fill in social and adventuring roles, giving halflings access to clerical and arcane magic, as well as some effective guerrilla fighters.
There are a few typo errors in this product, the layout is work-man-like, and the art is primitive and a bit cartoony, but honestly I like it just fine.
I think this is a really good value for the price, and would rate it a bit higher (4.25 or 4.5) if I could.
I hope Occult Moon follows up with additional Demi-options for the other races.