I'm jealous, man! I didn't even know about the third book.
As a matter of fact, I did
put up with the Jesuit moralizing, when I was in high school, used the first edition of Schoder and Horrigan, and had plenty of real live Jesuits around. I had great fun while it lasted, and combined Latin/Greek was my favorite course. I only got up through the first half of Book 1 when I quit school, just after starting real Homer.
What I like about the series is:
lessons are well paced, one per day
the book uses the Odyssey rather than the Iliad, a more interesting story, I think
there's plenty more practice the Pharr
there are two years high school (presumably one year college) course work, i.e., more exposure to Homer
I really do wish there were more beginners texts in Homeric Greek, but that's not the way most people learn it. And, by the way, after learning Homeric Greek, it's easy to work through a beginning Attic text and start on another author.