"Musiques Formelles" was originally published in French in 1963, and the English edition dates from 1971. The potential reader should know that the better part of the book is expressed in mathematics. It therefore provides a working basis for an aspiring stochastic music composer, but not what most of the rest of us consider gripping reading. I found the discussion of the use of "screens" in composition based on Markov chains to be intelligible, but there are pages and pages of equations that I would only read if it would further a goal such as a stochastic composition. There are, however, several powerful passages in chapters I ("Free Stochastic Music") and VIII ("Towards a Philosophy of Music") that are crucial for anyone interested in 20th century music.
It would be a great development if Xenakis was to belatedly replace the minimalists as a major force in "contemporary classical"/"new music" !!