My solution was to turn to PLT Scheme (now: Racket) and DrScheme. I figured that would work just fine as long as I didn't understand the difference between Scheme and Lisp anyway.
I own the book but have put off starting it for the lack of knowledge regarding a cross-platform IDE to do all the exercises in -- as my time would be split between my work Windows [1] and my home OS X environments.
I do, however, have Racket installed on both; so...
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[1]: and I have already been shot down on Cygwin
LispIDE already ships with CLISP and full Common Lisp documentation. If you know how to use a text editor and click on a button labeled "Run", then you can use LispIDE.
You can stop by the IRC channel #lisp on Freenode, or you can shoot me an email if you need help, or tweet me a hola. Details in my profile.
One example: I re-implemented much of the example Haskell code from a functional data structures book in Clojure, which improved my Haskell reading, my Clojure writing, and ensured that I actually understood the algorithms.
So I heartily endorse your idea of implementing the Land of Lisp examples in Racket Scheme.