I have the updated course. It starts off pretty well, still covering older material but adding update booklets for the digital material. The CDs and DVDs are updated also. Some of them are good, some of them are a little flat, for me. The forum is a discussion between two or three photographers that attempt to cover areas in which the text may be lacking. The text covers the material so well that much of the discussions on the CDs are mostly memories of past experience. Don't get me wrong, that is not necessarily a bad thing. But, it does not always hit the target (IMO) and leaves me wondering the point of the CD.
The text answers any question I've ever had about photography and covers material from the absolute basics, through composition, lighting (artificial and natural), equipment, portraiture, pets and kids, modeling, architecture, etc. It is well rounded. It reminds me of college, in a way. It seems there is alot of stuff you will never need (remember calculus?) but it may come in handy if you ever need it.
What I find most helpful is taking the time to really learn each topic by doing. When the material discusses image capture, for instance, it helps to go out and attempt to capture shots that the material covers. This is time consuming, but it is well worth it. The lighting section has actual practice sessions to work on, but it helps to also try your hand in other areas that the material does not specifically assign you a goal.
All-in-all, I am happy with the material (although the numerous booklets they provide are of different sizes and numbered out of order, but I think this is because I joined right when they switched material sets and they had not finished all the materials when I asked to have the bulk of it sent to me [which you can do if you pay in full]) and I am really happy with the substance.
Sorry for rambling. I had a long day. I hope it makes sense.