This was an absolutely beautiful story. It's not easy to tug in readers in such an intricately designed world, nor is it easy to keep them hooked, but Philip Pullman has managed to do it and gracefully so.
My only complain with the book is the first few chapters are quite slow paced. If you do read on, the book is rich with descriptions and characters. However, the beginning might bore readers - especially young ones. Since it's mostly a book directed towards children, it would've been better to keep the story a little fast paced and simple.
All in all, this was a wonderful read and I certainly recommend giving this a shot.