It's also well worth the effort (and it is a lot of effort) to read the third volume, Sorting and Searching.
I've greatly enjoyed the first three books, and especially Sorting and Searching. The chapters are independent, so you can treat the volumes as a collection of nonfiction short stories. I recommend it as bedtime reading.
Except, these short stories open up possibilities, and contribute to my understanding of ways to handle tomorrow's problems. There are three kinds of computer books: ones that teach one tool (pretty useless ten years later, when the tool obsolesces), ones that teach from the bottom up (again, pretty useless when 6502 is replaced by 65816, and in turn 68000, 68040, PPC601, PPC603e, G3, G4, G5, core duo, Xeon...), and those that teach from the general principles (top-down style).
Algorithms knowledge at the mathematical-tool level really REALLY helps sometimes. And it remains helpful forever (like the Pythagorean theorem) rather than becoming quaint (like the art of making an '035 keypunch program card).