When I was in school, my Social Studies classes usually ended right around the end of the Civil War, with some information about World War I and II if we had time at the end of the year, and the 1950s onward covered only briefly. I didn't grow up knowing very much about the Cuban Missile Crisis or even very much about the Vietnam War. With that in mind I think this book is pretty valuable for kids to read - it covers a period of time they may not be very familiar with and it does so in an engaging and interesting way.
The book's narrative is interrupted with photos interspersed with song lyrics, movie narration, etc. While interesting, I think a lot of it would go over kids' heads. There's not a lot of background information about the people pictured except for a brief bibliography in the back of the book. I did like how the book essentially presented us with images and sounds that the main character, Franny, would have been exposed to during this time period. It also reminded me a little bit of the Fallout games, which have a lot of the same "atomic age" 50s/60s imagery.
I liked Franny a lot, and her personality really shone through. She's very accessible, with problems that anyone can relate to. In fact, while I read I was trying to think of any of my relatives who would have been Franny's age in 1962. (Not my parents, unfortunately... they were born in '66 and '67. Sorry if I just made you feel old.)