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Major disciplines coverd include: phonetics, morphology, syntax, and semantics. Also included in this new addition are new chapters on second language acquisition and psycholinguistics.
One of the best features of this text is how well it is laid out. It is a pleasure to peruse and even study because of it's logical and user friendly format.
If you love anything about language- whether knowing it's origins, or what part of the mouth is used to create certain sounds, or how language changes over time and for what reasons, or a host of other curiosities, you will certainly enjoy the wealth of information within Contemporary Linguistics!
One thing in particular that I liked about the format of CL was the treatment of more advanced material (marked "Advanced") in each chapter. The "Advanced" sections augment the material in the rest of the chapter and are placed in logical sequence with the rest of the material instead of appearing in an appendix at the end of the chapter. For example, a section marked "advanced" on X' (read X-bar) Theory appears fairly early in the syntax chapter. Having some knowledge of X' Theory allows the reader to proceed to examine the rest of the material with the knowledge that there exists an intermediate level of structure between lexical categories (N, V, ...) and phrasal categories (NP, VP, ...).
Most chapters in CL are pretty well written and technical tools to treat linguistic phenomena are almost always introduced at the correct juncture. However, CL does not treat Innateness properly (why Innateness and arguments for and against Innateness), and has a weak chapter on semantics. The reader would do well to augment the material in CL by reading Pinker's "The Language Instinct" or Jackendoff's "Patterns in the Mind" for a non-technical introduction to some ideas in linguistics, as well as sections of De Swart's "Intro to Natural Language Semantics" to get an idea of how semantics is done. If the reader is interested in looking at language from a cognitive science perspective, she would also do well to read most of Gleitman et al's "An Invitation to Cognitive Science: Language".
All in all, CL provides a relatively painless initiation into linguistics and I highly recommend it.