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Not that it matters how the individual volumes fair, because if you've read 'Scott Pilgrim's Precious Little Life' you will surely have gone on to read the entire series, but this volume is probably my favourite and it's contents are also mostly absent from the Film.
If you haven't picked up vol. 1 then I urge you do so soon. Buying the whole series may put you out of pocket a bit but it is well worth it as they are very re-readable and rewarding.
The book can be read in under an hour unless you savour each page, which will reveal joyfully obscure video game and band references.
Before I saw the film I was put off by the series thinking that it's tweeness and 'hipsteryness' would irritate me and almost put off seeing the film after reading the pathetic tagline; "an epic of epic epicness" but alas, I saw the film and it was my favourite film of the year! (I am an 18 year old gamer and pretty much right on target for the film however so keep that in mind). I then played the xbox Live game and it was one of the best 2D games I had ever played (better than streets of Rage). After that I picked up the books one by one and knew that I would be in love with this series for ever and ever.
Note: I have heard that the Oni Press (Canadian and USA) versions of these books are superior to the 4th Estate (UK) version due to some edges being cut off or something. I didn't notice anything but I think the Oni Press covers are a little nicer.