No not really. Sorry I realize reading through my post that I gave that impression. Design theory is probably only 10% of the book (but it's an exciting 10%). The majority of the content is visual, step by step walk-throughs of rendering techniques. Lot's of nice pictures and succinct descriptions.
Here's a description of the book from the back:
"Starting with the essential tools of the trade, the book describes the principles of perspective drawing and coloring techniques with chapters on marker, airbrush and colored paper rendering. Step-by-step drawings show how to build up a product visual, and follow through the entire design sequence to the finished drawing. Of special interest is the separate feature on automotive design- a field which attracts many creative designers. All types of line and descriptive drawing are explored, including cutaways and exploded views. Sections on special finishes, the use of backgrounds and mounting materials make this book a comprehensive design tool."
By today's standards much of the work will look dated, the section on shoe renders is particularly funny after seeing what modern shoe rendering techniques, but the fundamentals used in this book are timeless and are applicable whether you're using marker, pencil, photoshop, sketchbook pro, or ketchup and mustard.