The Abrash's black book is both totally outdated and highly relevant. All the technical material is entirely outdated - which probably makes it a better teaching tool. But the methods, approaches and thought processes he describes through the book and the beginning vignettes are priceless.
Particularly for me the Video 7 story.
It's an entertaining read, mostly, but you'll surely don't get much from the 386, 486 and Pentium quirks (and cycle counting) to extract the last drop of performance, other that "back in the old days, Pentium would issue 2 instructions at the same time given a very particular set of conditions". But again, as he does focus on analyzing the problem at large, finding the correct algorithm and data structure, it's still useful.