One of my students owns a Good Time and it is well worth the money she spent on it. Since she was interested in Clawhammer, We put medium strings on it and the tone/playability improved.
While I think every banjo player should have Pete's book, it does bite off a lot of different styles. I'd stick to one style for a while as suggested earlier. Ken Perlman was an excellent suggestion. For clawhammer style, I'd go the video/DVD route as it's hard to explain the right hand accurately in a book.

By the way, Fred Eaglesmith owns and plays Good Times on stage, even though he also owns an old Gibson.