It's all in how you train. ANY martial art can be effective. I have beaten up people in real fights with Taekwondo, contrary to popular opinion, and I have seen grapplers beaten in real fights because they did not know how to handle strking, contray to popular opinion. Yet, I evetually saw the value in grappling so I emptied my own cup, took it up again and like it, as well as Taekwondo.
There is no superior style. Your martial art, regardless of what you study, will end up depending on how you train, your attitude and aptitude. If your art has "holes", do you fill them or at least acknowledge them? Would you learn from someone who has more knowledge or even less, regardless of their so-called "system"? Can you learn to begin again? Do you share information and pass on what you have learned?
So the answer to the "is this effective" question is "yes". It all depends upon how you train and if you seek to make what you are learning work in the real world.
It is very much effective. Rather than try to explain here, here is a link to a question that should provide some insight for you regarding this kenpo.
Happy reading!
edit: oops! here is the link...sorry
http://ca.answers.yahoo.com/question/index;_ylt=Apa5W1ddshb7CmhB9.Km8GLAFQx.;_ylv=3?qid=20101122142505AA8sMMD