This book has had very mixed reactions from those who have read it. Budge was writing at a time when people were unsure of the exact values of certain characters, and when many things about the Ancient Egyptians were still unknown. For this reason there are some strange mistakes in his dictionaries that many advanced scholars now criticse him for.
However, this book does offer one of the largest hieroglyphic dictionaries currently available and for this reason it is indispensable.A casual learner, who wants to be able to read the cartouches that appear on monuments and stelae can do so with Budge's king list.
An advanced scholar though, who needs to know the unusual words that can be found only in Budge's dictionaries, will have enough knowledge to correct his outdated transliteration.
For the casual student I recommend this book intensely, as it helps greatly with cartouches and formulaic inscriptions.
For the more advanced Egyptologist I also recommend this book, as it offers as I have said a far less "concise" version of Faulkner's Concise Dictionary.
P.S If you buy Volume One, do not forget to purchase Volume Two!