I've been using this book for a Chinese Literature/Translation Senior Independent Project at my high school, and it has been invaluable to me. It has introduced me to some literary figures I knew little about (I initially purchased the book because I'd read Zhu Ziqing's "Haste" in Chinese class in the fall and had enjoyed it a lot). Additionally, it has made learning Chinese through studying Chinese Literature/reading Chinese literature so much more efficient. Instead of having to look up all the more difficult/literary characters I haven't studied before, they're all glossed at the bottom of the page! Additionally, there are short introductions to each author and to each of the pieces they have included, which give you a feel for what you're getting into.
I suggest this to all high school (and college, though I don't know much about the way college Chinese courses work as of yet) teachers teaching Modern Chinese Literature courses, and you'll make sure your students spend time reading the text, rather than looking up tens, or even hundreds, of characters.
I also suggest this to all students who want to start reading real literature rather than textbook dialogues, and this provides the perfect way for you to ease into that. My hope is that eventually I won't need Capturing Chinese books to assist me in reading Chinese, because these books will have provided me with a large enough character base and understanding that I won't need glossaries and bios anymore. I think that is the company's hope, too-- that they've created an effective language learning tool. Thus far, it has proved incredibly fruitful.
Now that this series of books is around, there's no need to feel intimidated by the thought of reading Chinese Literature anymore. (It isn't easy, and will take a lot of work no matter how you approach it, but this book is sure to help a lot).
I do suggest a simpler cover design, though. It's an amazing product, but the cover is too busy.