This book was a substantial expansion and update of World of Darkness: Sorcerer, but had many problems that the previous edition lacked. First, the good: the powers were updated nicely, including some Paths being made substantially more useful without, in general, being overpowered. The Fellowships were good, and including psychic powers and Fellowships made the book seem more complete. There were, however, some bad things as well. Much of the ST advice is generic to the point of recommending that the best way to have a lower power game is to give out less XP. The Merits and Flaws section was mostly lackluster, with two standout bad merits: Blood Magic which gives no benefit whatsoever as written and Struggling Awake, which allows a sorcerer to use Forces 5 one time in ten (they are, in fact, the same price). Another odd thing was that there were not one but two factions of nasty sorcerers whose entire Fellowship was founded on hating Jews, which was a bit uncomfortable, though one was largely broken. And another big piece of bad advice was that a mage could possibly have numina, a thing that is implicitly declared impossible in other books.
Overall, it's a good book with some weird aspects that are best ignored or require fixing, a solid update of World of Darkness: Sorcerer to Revised Edition.