If you haven't seen the movie and you're under about 25, I advise you not to. Even if you're old enough to remember when Krull and Legend were exciting sword-and-sorcery epics, it's a good idea to skip it. It has an emotionless elf and a sword with the Magical Power of Levitation. That doesn't mean it can fight on its own, mind you. It just means that if you drop it, you don't need to bend over to pick it up. In the book, this is described as "The mindsword sparked with a green glow and zoomed into Hawk's waiting hand". In the movie, it's much more, um, "floaty" than that. All I'm saying is that I suspect fishing line was involved.
From this, you might think that the book is better than the movie. After all, a book won't suffer from inadequate special effects, bad acting, and Patricia "Magenta from Rocky Horror" Quinn as the evil sorceress. But the book also lacks the talents of Mr. Jack Palance as the villain. And say what you will about Palance, he always brings some entertainment value to the proceedings.
The real problem with the book is that it's too heavy on the descriptions, while not being absolutely sure what the words mean. Check it:
Dismounting, they stretched weary muscles. The sky had turned to frosty black velvet, clustered with sparkling points of light.
"The stars are out," said Gort obviously.
Baldin, his back against a tree trunk, glanced up and nodded. "So they are," he acquiesced mildly.
Yeah, that's a little too... flat for my tastes. Although to be fair, if you watch that scene in the movie, you will find that he does indeed acquiesce in an exceedingly mild fashion.