Solid book. If you're a player in a RoleMaster campaign, this should be your first book as it has a lot of information a player needs to know, and racial information and statistics. Character Law has further customization and race information, Arms Law has charts on different weapon damage, and Gamemaster Law has the info that of course the GM needs.
Don't mind the old-style images, embrace them as this is from an era where gameplay comes before flashiness and political correctness. Races have realistic attributes, movement speed, etc. which is cool. Of course, until everyone in your group has a good understanding of the mechanics be prepared for things to take a LOT longer than D&D/pathfinder. It's definitely worth the intellectual exercise even if you don't immediately have a group to play with.