There is an argument that it hasn't aged well and that with the advances of programming language design, libraries and hardware it is more of a historical look at the early days of programming. I disagree though as it gives the budding programmer a good foundation. I would also suggest SICP books/lectures. Also learn to program Visual Basic in 5 hours :-p
I disagree, all languages have the potential to be misused by poor programmers and it's the developer who is the source of the bug, the Linux kernel is written in C and is the most successful/widely used piece of software ever written largely due to the quality of the devs. Blaming a language for bugs or hoping new shiny one will stop a poor programmer for producing bugs is wishful thinking