I was lucky enough to pick up a first (unrevised) edition of this book at a used book seller. I don't think they realized what they had or I'm sure they would have charged more than the $3 or $4 I got for it (the amounts I see online are ridiculous but I could see someone trying to get $10 or $20 for it).
But anyway, I've had it for a while and finally decided to sit down and read it. I'm about halfway through and figured I'd post some thoughts thus far since this is such an infamous novel. Basically the story is about the Romulans trying to change history so the Federation is never formed by killing the 3 men most responsible for it's creation (remember this is pre-TNG). They succeed and the story moves to the parallel universe (or altered universe I guess in this case) where there is no Federation, but an Alliance run mostly by Vulcans which is pretty similar to the Federation. However the Enterprise is the Shikhar, Spock is in Command and Kirk is an Ensign who has a history of trouble. Chekov is first officer but the others are largely the same.
Now, for salacious stuff
. First of all, I want to point out, despite everything I've read I tried to approach it with an open mind. What I mean is I didn't assume every sentence had an homoerotic overtone. I tried to approach it as I would any Star Trek novel. At this point in the story it's pretty minor. For all I've heard about the homoerotic overtones, I frankly noticed it more when I read the novel "The Price of the Phoenix". There's a few minor references that could be interpreted to be homoerotic but if I knew nothing about the book I'm not sure I would have picked up on it. Van Hise noted at least twice to Kirk and Spock being like brothers, and close friends, and I know for myself that's how I always thought of their relationship, as brotherly love. Granted, I'm halfway through the book so it may get more, um, racy later on. There was a more racy scene in the book between Nurse Chapel and another female character who's described as similar to a canine in appearance. The closest I got was one scene where Kirk is talking to Spock in his quarters and Spock had his shirt off since it was late--and Spock feels like Kirk could undress him down to his marrow. Now the sense I got from that was because Kirk and Spock have a connection and I took it metaphorically and not sexually. There is another scene where Kirk has a fight with his roommate and he accuses the roommate of probably playing with dolls and wearing lipstick growing up (which is one of the altered scenes in the revised edition). But this altered universe Kirk is undisciplined and looking for trouble. I took this as simple immaturity and taunting by Kirk and not anything homoerotic. The character Kirk was fighting with was a bully and I gather Kirk was trying to attack him for not being "man" enough.
One thing that is unusual about Van Hise's writing style is her detailed description of character appearance. Normally, for example, an author my describe a scene as follows: "Kirk's hair was wet with sweat, running down his face". Van Hise's style is more like "Beads of sweat matted Kirk's golden brown hair down his smooth, clean shaven face".
Otherwise it's an interesting story. I've always liked altered universe stories so we'll see how this plays out.
But anyway, I've had it for a while and finally decided to sit down and read it. I'm about halfway through and figured I'd post some thoughts thus far since this is such an infamous novel. Basically the story is about the Romulans trying to change history so the Federation is never formed by killing the 3 men most responsible for it's creation (remember this is pre-TNG). They succeed and the story moves to the parallel universe (or altered universe I guess in this case) where there is no Federation, but an Alliance run mostly by Vulcans which is pretty similar to the Federation. However the Enterprise is the Shikhar, Spock is in Command and Kirk is an Ensign who has a history of trouble. Chekov is first officer but the others are largely the same.
Now, for salacious stuff

One thing that is unusual about Van Hise's writing style is her detailed description of character appearance. Normally, for example, an author my describe a scene as follows: "Kirk's hair was wet with sweat, running down his face". Van Hise's style is more like "Beads of sweat matted Kirk's golden brown hair down his smooth, clean shaven face".
Otherwise it's an interesting story. I've always liked altered universe stories so we'll see how this plays out.