This book brings the view of this system (and the view that later opposed it) under the microscope as no other work has done before. Aulen analyzes these views in light of the dominant teaching of the Church for the first millenium of Church history (known as the "Classic/Patristic/Greek" view). He also has some interesting insight into the strength of Martin Luther's atonement theology.
My personal qualms with this work are that 1. he lays out the Patristic view as the teaching of the Bible but is not very convincing2. Luther's views on Law and Wrath do not line up with Biblical teaching and are certainly not the pinical of Christian teaching on the atonement3. he does not understand the history of the doctrine of the Reformed Church and therefore lumps it all together. BTW this is a problem with a lot of modern critics of teaching on the atonement (& justification) in the Western Church, including my favorite N.T. Wright.
Though I have quarrels with some of Aulen's views, this book brings a most important issue into focus and does a great job of starting a conversation between differing wings of the Christian Church. Thank you Wipf & Stock for reprinting this invaluable work.