it's difficult grouping books together (and harder still to find snappy titles for the categories) - these are books whose main emphasis is on the lisp computer language.
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i've been using lisp in my spare time for maybe 6 months now, so i'm no guru. but it's been long enough to form some half-baked opinions. here goes:
neither of these books is aimed at new programmers, but if you are a lisp newbie who already knows how to program (better, you have moved through feeling that you know how to program into a realisation that you will never be perfect, which may be why you are now learning a new language...) then i think these are both books you will enjoy - but which will you continue to use?
(if you are a newbie, you also need to check the alu site and get yourself a (digital) copy of cltl2 and the hyperspec).
norvig's book describes various "classic" programs. on the way he covers everything from basic functional programming to implementing interpreters and compilers for prolog and scheme. the emphasis is on practical implementations, so you follow the development process and worry about performance - this makes for a lot of reading and a very thick book.
in contrast, graham's book is much thinner. he's not as worried about performance as he is about flexibility - particularly adapting the language with macros.
when i started programming in lisp, i bought norvig's book. although i couldn't understand it all, it fired me with enthusiasm and helped me understand some lisp fundamentals. then, after i had been programming for a while, i read graham's book - it was a revelation, a slim book full of interesting ideas that made me look at the language in a different light. lisp is the only language i know whose syntax can be extended so elegantly.
so on lisp struck me as the better book. it was short, full of interesting ideas and the author clearly shared my belief that worrying about (low-level) efficiency should be the last thing on a programmer's mind.
but skimming through norvig's book again as i write this review i keep noticing interesting ideas that never hit me first time round. i've heard it argued that on lisp is for advanced programmers (it has "advanced" in its subtitle), but i'm starting to think that it's ai programming than expects a more experienced audience: if you can program, you can get a kick out of graham's book, but it's only after getting some experience with lisp that the details in norvig's book start to light up.