Tipping the Velvet is quite the romp into a world of lesbianism in Victorian England, Waters' style of writing pulls you in from the very start, submerging the reader right into the world of the protagonist, Nancy Astley. The story is broken into three parts, the first being of a romantic vein, the second rather racy, and the third more settled while bringing the story to its resolution. As with any romance there is some degree of inevitability in the course of events, but I think that overall the story is a satisfying one that keeps the reader on their toes. The ending especially worked extremely well for me, as Nancy finally stopped running, and did not give in to the invitation by Kitty to come back to her and live a lie. Throughout Waters' plays with language, most prominently with words such as "gay" as they meant in the Victorian era (i.e. "happy") which provides a nice prod at the controversial lesbian theme of the book as a whole.
Overall I thought it a wonderful book, and will definitely be picking up her other novels, and watching the BBC adaptation of Tipping the Velvet rather soon.