Yes, it's a story that was first published (in short form) in the Silmarillion. It's a tragedy about the lives of Hurin's children (focusing on Turin) as they suffered under a curse of Morgoth (Suaron's boss in the first age).
Great fantasy tragedy, it has an uber-powerfull bad guy, a dragon, a strong leading man, a dedicated and faithful companion, star crossed lovers... and a suitably romantic tragic ending.
Personally I think the story of Beren and Luthian would make a better book, but Tolkien spent a lot more time on this tale.
As far as the book goes, I'm about halfway through and I'd guess I've already read 90% of the content in various other Tolkien publishings, but never put together quite this well. Overall I think it's a worthy addition to the Tolkien library.
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