Thank you for all the great, balanced, and thoughful feedback. I have continued to scour some commentary on this "theory" and others. For any of you interested, I found this article which seemed to me to be well-balanced with pros and cons. http://www.keepkidshealthy.com/reviews/parenting_b ooks/on_becoming_babywise.html
For now, I have set the book aside and consider it in the set of "interesting concepts", but so clearly not the only
one. To add to this, my neighbor just came home with her 1 week old, and as I was holding him yesterday, I dreaded the thought of letting this precious, helpless little thing just "cry it out".
With all the books and advice in the world, I expect that between my husband and I, we will experience what all first-time parents experience: we will figure out what works best for our little girl with a few skinned knees, sleep-deprived nights, and trial & error.