I remember reading this trade back when it was first published, and enjoying it. Years later, I've become a slightly more critical reader and I've been reading some much better stuff. The end result is that I didn't like it quite as much as I had back then.
The plot is not the problem here. The basic idea (Batman keeps secret files about each member of the JLA, including his strategies for defeating them) is fantastic, totally in character, and probably lead, in small part, to the events of the stellar OMAC Project mini. The problem is more in the execution, and mostly in the dialog. It's nothing I can put my finger on, it's just not entirely satisfying, and sometimes not entirely convincing.
Incidentally, the trade also includes an unrelated story. It was a standalone issue, about the tumor that has become a civilization. The first few pages weren't promising, and it veered close to just becoming preachy, but it actually rose to the occassion with a truly unexpected ending and some good character work.
The end result? Good idea, bad execution. And yet, still worth reading, especially if you're about to tackle Project OMAC.