I know some folks here already know about it because recent topics have been referring to it. I just finished building it. No problems. The book's steps are perfect again. I spent two evenings working on it, and that includes one stop-and-start-over due to a blunder by me.
The layout and style of the book are unchanged (I like it that way). The package collection has undergone version upgrades to many of the standard packages. Two notable ones are GCC-4.7.1 and Glibc-2.16.0. Another interesting change to the packages is the addition of Pkg-config which 'til now has been a BLFS package. There are some minor changes to the order of the packages here and there.
Watch out for the Udev page. Udev has been merged with Systemd. Systemd itself is of no interest to us, but Udev has to be extracted from the Systemd source. So when you arrive at the Udev-188 page, you untar the systemd-188 tarball and cd into its directory to begin the steps. The udev-lfs-188 package is then untarred into the systemd-188 source directory to provide some additional source files to build Udev for LFS. I didn't botch any of that, but I did have to stop and stare at that stuff for a few minutes to catch on. See the little yellow note box.
About a half-dozen or so packages have seds to fix "incompatibilities with Glibc-2.16.0" that all involve stdio.in.h in their sources. This is a typical example from the Diffutils page...
sed -i -e '/gets is a/d' lib/stdio.in.h
All of those packages compiled and installed just fine. But I'm wondering if that issue will pop up while building the BLFS system on top of this little base system. I build and install a lot of things that are not in the book. Perhaps the issue (and I don't even know what it is yet) will be easy to recognize and amenable to similarly worded seds then, too. Anyway, whatever happens, it can't possibly be as bad as the libpng-1.5 mess a while back. That busted stuff all over the place for a while.
Okay, onward to BLFS with it.