Compared with The Vampire Lestat or The Queen of the Damned? Poor.
Taken by itself? Good enough.
The first part is awful, but, as soon as Louis forgets about Daniel, or Daniel stops being so afraid, and actually starts telling his story, things get a lot better. Reading Lestat first and knowing the general idea of things and how things would eventually end and seeing the movie some years ago certainly didn't make reading this book more captivating, so my judgement could be a little off because of that.
Now since I read the other two first, Louis' description of Lestat made me frown several times. Maybe if I would have read them in the right order, things would have been the other way around.
Good foundation for the series anyway.