I haven't seen this kit out of the box, but there's a pretty detailed review of it in the January, 2003 issue of Fine Scale Modeler. The review is accessible through this website. I just read it; it's generally quite favorable. Looks like a nice kit.
The big decision to make regarding Iowa-class battleship models is: what configuration? The Trumpeter kit shows the New Jersey as she looked in the 1980s. By then she looked quite a bit different than she did when she was built. If you're looking for a 1/700 Iowa-class battleship in World War II configuration, the recent Missouri from Tamiya is the one to get. If your interests are more modern, it looks to me like the Trumpeter New Jersey could be the basis for an excellent model.
I do have the Tamiya Prince of Wales. It's an older kit, but an excellent one. The color scheme that ship wore on her ill-fated trip to the Pacific is one of the more elaborate and interesting ones ever to appear on a battleship. It would be quite a challenge to reproduce, but the finished product would be really impressive.
Whichever of the two you pick, you might want to check out the photo-etched detail sets from Gold Medal Models. Both the U.S. battleship and British warship sets that firm offers are excellent. They include such things as cranes, catapults, and radar screens that can really dress up a model.
Good luck.
Youth, talent, hard work, and enthusiasm are no match for old age and treachery.