I have tried in this review to cover the essential issues in Searle's view of consciousness. There are several other specific issues discussed in the book --- e.g., the nature of the unconscious and its relation to consciousness --- which I have not addressed here, and on which Searle makes some very interesting and illuminating points.
Overall, I think Searle's book is a very important contribution to the philosophy of mind. Searle does an excellent job of identifying the false premises at the bottom of most of today's theories in philosophy of mind. And while his positive theory has some essential omissions and weaknesses, as discussed above, it points the discussion to the important --- and generally neglected --- issues.
At the same time, this book is also a good illustration of how modern philosophers --- even (or rather, especially) the best of them, such as Searle --- could greatly benefit from the relevant insights offered by Objectivism.