You're right on with the point that it isn't how the old-time strongmen actually trained - I think it is always a misconception that it was the basis of their training, but I think that the only things they really have in common are the shared simplicity and intensity and that's about it. Some of the old timers would train one lift each day, some would train singles on a dozen lifts, others were different yet....everyone was doing what worked for them, and I think that it does frequently get confused that the book is an actual program that was commonly used. Still, I think that the main point of the book is that we often get too lost in complex routines and fancy machines and what-not, and sometimes all it takes to make great advancements it to simplify and work harder than ever to acheive results. That advice alone is well worth it!
I think this type of training works for a lot of people, my one gripe is when people always say it's what the old time strongmen did. It isn't. They were all vaudeville/musichall performers. They did there acts daily, & more at weekends, they also trained besides that. All the oldtimers had to do that just to make a living. After they'd become strong/famous then they may have cut there routines down & focused of mail order courses etc (i.e. Thomas Inch, Maxalding et al), but to gain their strength they worked out 6 times a week at least!
Not that I recommend that as they were genetic freaks, but just to put the record straight.
Even if this isn't how the old timers trained I do still like it as a training system.