I have a very dog-eared copy of that book sitting on my shelf. I thought it was fantastic when I got it, almost ten years ago, and I still think it's pretty good.
It's one of the few game development books I've found that works through the process of building out a non-trivial game, piece by piece. Granted, at the end of the book, you're going to have an unpolished, simple, early-2000s 3D Warcraft clone, but I think it fills in a lot of gaps between what you learn in the straight OpenGL/Direct3D graphics books, and the fairly abstract game design, Game Programming Gems-style topics books.
If nothing else, I think the chapter on random terrain generation is pretty nifty.
That being said, trying to update it to DirectX 11 is not a trivial endeavor. It makes use of a lot of the D3DX stuff that no longer exists or has no direct analog in D3D11, which can be problematic, particularly for the model animation.