I did the course last year when I was pregnant with DD and would definitely recommend it to anyone.
The book and cd is included in the course costs and I would read the book regularly and listen to the cd at least once a day. When you do the course, you can interact with the instructor and get a better grasp of the whole process (even just learning about the physiological side of the whole process helped to remove any fear of the process). Often your intructor will also have taught other parents who have had amazing birthing experiences and this also helps to get rid of any negative associations you may have with labour.
Also, I enjoyed the course as it meant my partner could have a more active role in helping me during labour and it was a real bonding experience for us all. (I must say that initially, he wasn't too happy about giving up his days off to do the course, however will now wax lyrical about it to anyone and everyone!)
I had a fantastic birthing experience, arriving at hospital 24 hours after my first contraction, very relaxed (they didn't do a physical for an hour) and 9cm! DD was born not long after, a very chilled out baba (hypnobirthing means your baby will experience as little trauma as possible). I didn't tear and really enjoyed the whole experience. At no point did I feel anything more than mild discomfort. I went into the whole thing open-minded and fully prepared to ask for pain relief should I need it. Another mum from my antenatal group only used the book and cd and, without going into details, didn't have as pleasant an experience as I did, with a 4 day labour, amongst other things!
Good luck with whatever you choose to do and remember that it's a natural process that doesn't have to hurt