TOACP is an essential read -- at some point. Depending on what you do daily, it may not be your most urgent one.

It's one of those books (well, collections of books) that is good to read early in your career because it really gives you good insights you normally wouldn't get to until later, but it's not essential to survival until you graduate to that part of your career where you don't just code, you choose the toolbox. This is the point where you really want to study algorithms, hopefully already understand language design a bit, and have a very broad understanding of what tools, languages, and systems are out there, and how each one fits into the ecosystem of things you can draw on for a particular project.

In other words: it's big-picture learning, so if you are obsessive like me read it now, if you aren't, it's okay to put it off until you start yearning to move up the ladder and become a big picture guy.