I am taking a course that revolves around this book. Most of the material is freely available for anyone that is interested:
clgiles.ist.psu.edu/IST441/index.html
Just in case you were contemplating getting Kinko's to print the PDFs rather than buying the book, it won't save you much money. It was $48 at Amazon, and the cheapest I could make it at Kinko's (online) was about $38.
You can always print it at home and have it bound at Kinko's... although that probably wouldn't save that much more. Used book stores are also a good option.
Looks like a great introduction. My copy of Modern Information Retrieval (1999) is starting to show its age as well and from glancing through the table of contents, as pointed out in Greg's post, this really seems to hit a lot of the recent trends in IR. Up to chapter 11 is kind of a review of traditional IR and then from chapter 11 on it has a pretty impressive chunk of IR from the last decade (which is often what's missing in introductory texts). Added to my Amazon wishlist. :-)