The album peaked in the top 10 of the trade charts in four countries, including Canada where the album topped RPM magazine's 100 Albums chart.[5] The album has gone on to become one of the group's most successful studio outings.
The songs on Book of Dreams were recorded at CBS Studios in San Francisco, California; the basic tracks were recorded at the same time as the basic tracks for the Steve Miller Band's 1976 album Fly Like an Eagle.[6] The sessions were produced by the group's leader, Steve Miller, who had been producing the group's albums since Number 5 in 1970. John Palladino was the album's executive producer and the recording engineer was Mike Fusaro. The recordings were later mixed by Jim Gains with assistance from Win Kutz and were mastered by Ken Perry.[1]
The winged horse art was created by Alton Kelley and Stanley Mouse, who were credited as "Kelly and Mouse". The art director for the album was Roy Kohara.[1] The cover illustration was also used on the record label on the vinyl version of the album.
The Bay State Banner wrote that the album "is, for the most part, firmly within the California soft-rock mold exemplified by the Eagles."[10]
AllMusic gave the album a rating of 4/5 stars, calling it "a highlight of the '70s classic rock era and one of Miller's finest releases." The review also comments that it is an unnecessary album for the casual fan to consider, as the 1978 compilation album Greatest Hits 1974–78 contains seven highlight tracks from Book of Dreams.[2]
^Ashley Brown, ed. (1990). "Space Cowboy". The Marshall Cavendish Illustrated History of Popular Music. Vol. 11 (Reference ed.). Marshall Cavendish. p. 1227. ISBN1-85435-026-9.