Just like the two previous books of what he calls the "Bigend Trilogy" this one is set in the present - well, actually in the very near past.

Being a total fanboy, I did read it in basically two sittings. Just like the two books before, it does end rather abruptly, though - wrapping up the story in one rather short chapter. As usual I did enjoy most of what could be considered "exposition" and description of places and people - he's much better with that than with the plot development.
In the end there are two "big" revelation which both made me groan, but maybe I'm too jaded.
It was big fun to see stuff that has been floating around the internet in the last few years randomly pop up as little beacons of Zeitgeist, so, yeah: 4 out of 5, for the general feeling of awesomeness, one redacted for the rather weak plot.