Hey Mark,
First, thanks for your interest in the book! Let me take a quick stab at your questions...
1. Does this book complement the first book?
Spring Persistence, A Running Start takes you through a wide range of persistence topics ranging from simple JDBC using JdbcTemplate to JPA/Hibernate to iBatis to JCR. The new book represents a much deeper dive into Hibernate and its internals.
If I could only afford one book, which do you suggest?
I'm hard pressed to argue with Christophe's suggestion

Seriously though, folks who are new to persistence with Spring and trying to determine what framework to use may want to check out the Running Start book. For developers who are already committed to Hibernate, the upcoming book is likely the best bet.
Whats the approach in your book? Is this a one stop technical book that discusses everything or is this a book that builds a simple project and enhances it progressively?
We've taken a sample application and fleshed it out over the course of the book, so it sounds like you're in luck
Cheers,
Brian D. Murphy