They are significantly more advanced, lighter and considerably cheaper than a standard flashgun, and have many advantages. They are small (and cheap) enough that a number can be carried in your kit, and they can be used in combination, triggered wirelessly. They use through-the-lens (TTL) metering, which allows you to use the in-camera LCD and histograms to calculate the required power/direction, rather than havng to use a light meter or trial and error. They use proprietary, dedicated technology (from Canon and Nikon) that means there are no compatability issues.
Getting the most out of them, however, remains a mystery - most photographers still just use their speedlights in the same way as a standard flash gun. This is where this book comes in.