I have Jerry's book. I bought about a month ago and didn't understand what he was getting at but I picked it up last week and now I understand a little better. What he teaches in the book is the movable chord shapes. He refers to them as neighborhoods and teaches them in four groups. I haven't got beyond the first neighborhood yet but I believe that once you learn the neighborhoods you can figure out which neighborhood a particular song is in and easily know which shapes belong to that key.
I think what confused me about the book at first is that he doesn't refer to the chords by name (ie C7, Dm) but he teaches them in relation to one another (1, 4, 5, 57, 6m etc). Now that I have a teeny bit more understanding of chords in relation to each other, I can see the value of this approach since it enables you to play in any key without even knowing the name of the key it is since there are only 4 possible shape sets it could be in.
While I think that knowing the movable chords is going to be important to me in the long run, I don't think this is a book for a beginner with no music theory under their belts. If you knew what I meant when I referred to 1, 4, 5, 57, 6m chords - you can probably benefit from this book.