Haven't read that one myself, I learned mostly from Introduction to Algorithms and online tutorials. I would suggest having a go at TopCoder problems. It's a bit of a pain to set up, but once you have, there are practice rooms with problems from past contests. Written up solutions are available too. It helps you learn to design algorithms for unseen problems, which is ultimately what we're after. There are a lot of essential small tricks and methods that these problems contain and algorithm books don't get to cover at all.
Also, competing is a good idea. It helps you evaluate yourself and there's more motivation to do well. Having a rating of 1500, say, would place you in a good position to crack even the most competitive phone interviews.
I did TopCoder for a few years in high school, and now I can confidently and quickly get most of the algorithmic questions that companies ask. It takes a while to get there, but it's worth it.