Warning - it's hard to write a review without referencing to the previous books, so there will be some spoilers (about previous books), mainly from "Water Sleeps"
For a reminder: "Soldiers Live"
This book presents a great conclusion to the current plot-line. In the last book Sleepy managed to save the Captured from the caves under the glittering plain. We also learn history of the Black company and their place in the world(s) and we are prepared for the last clash. At the beginning of this book, things are in status quo: for some five years, the Black Company is in one of the "other worlds", recruiting, training and preparing; Kina is sleeping under the glittering plain; Soulcather, Mogaba and the Daugther of the Night are having their own petty squabbles. And like in the first book of the series, it will take one were-panther to start the avalanche...
In this book, we see things mostly from point of Croaker, who is currently Annalist again. But we have many POVs from Soulcather, Mogama and Booboo, which is a nice way to freshen things sometimes. Croaker feels most natural as an Annalist, at least for me, probably because he is the original Annalist; he is also much better to read than Murgen. We are introduced to many new characters, mostly wizards. I especially liked later parts of the book that describe Croaker's relation to two of the new players: Arkana and Shukrat.
I don't have anything bad to say about the book. It has many funny scenes (I really laughed when One-Eye's still explodes!). It also has many sad scenes: the name of the omnibus is unfortunately very true (which I found very clever!). It is one of the reasons why I like this series, this play of fun, sadness and stubbornness. You just have to like how strong these characters are: they get beaten, captured, they friends get killed and they are forced to kill their friends, but they never surrender. As Croakers says: soldiers live...
I have to say that in general, I'm very satisfied with this book, in general and as conclusion of current sage. It presents best sides of the series: world with complex and detailed history; interesting, funny and clever characters; and message to never give up. It is a must for everybody who read previous books. For me, it was the best book since the original trilogy. As of complete series, it is one of my favorites, despite of few poorer books in the middle.
As of my next object of interest, I will watch a relatively new anime "Kimi ni Todoke", which has good rating on AniDB.