I liked the part that said that you need to make your cover letter about the company and what you can do to help the company. Your resume should sale you but the cover letter should be well written to help them consider you for the position.
I did not agree with the part that said that resume's do not help as much as thought. I believe that if you send a company a resume then they will take the time to review it even if they are closely tied in with a college recruiting program.
The part that I found most helpful was the part about the mass e mailing. I do not think that this is a good strategy for the reason that if you send it out to hundreds of people, then you might get a response back from a company and not know anything about their business. I also think that it is impossible to make a cover letter that relates to how you will help each company if you send out hundreds of resumes.