I just finished his Beginning Java book, and I thought it was excellent. It wasn't a rigorous dissection of the Java language, which is a good thing for beginners and people who don't want to commit a lot of time to drill down into a lot of details, which is what I was looking for. If you want an easy overview of the language with lots of examples and exercises with answers at the end of each chapter, then I think it is a good book. I would imagine his beginning C++ book is similar.
I don't know what the deal is with Schildt. He does have a bad reputation... Someone said that he couldn't possibly have really written 100+ computer books himself, and I think they have a point. I have a Windows programming book by Schildt, and that particular book is quite good (but outdated now).