I was required to use James and Stuart Rachels' Elements of Moral Philosophy, 7th edition, for an introduction to ethics course last semester. From that experience, I will give a very brief evaluation of it as a textbook. I have three points to make, one positive and two negative.
First, Elements of Moral Philosophy is extremely accessible--my students commented much on this--and covers most topics of historic and recent western philosophy. Second, however, it achieves this accessibility by striping-down historical figures to such a caricature that their next philosophy professor will have to deconstruct their preconceptions before building on acquaintance that students should already have. Third, the text is so implicitly and explicitly dismissive of religious moral arguments that I cringed every time I had to discuss the text on that topic. Most of its dismissiveness occurs through using of straw man arguments and failing to give counter-arguments to secular claims made in the text.
I would not recommend Elements of Moral Philosophy because of its poor treatment of historical and religious thought. In my case, I constantly had to negotiate its pro-atheist stance with a class that was almost entirely Christian (Catholic and Evangelical Protestant) and unusually pious. Thankfully, I teach religion frequently, so I was able to navigate the texts while only being awkward about it, but a professor less adept of discussing religion might be in for a trial.