If 3 hours or so of fun is worth $15 to you, then don't hesitate to get R&C: Quest for Booty
My first complaint is the title. There is almost no Clank, and the quest is not specifically for Booty. Moving on...The game is very short. It took me 3 hours, and that was spent playing it on Hard. The story is advanced somewhat, mainly the reintroduction of old villains.
The main thing that bites is that there is no carry-over from the main game of your inventory. I finished R&C: ToD with a maxed-out armory, and I wanted to take advantage of it. Nope: the game starts out with mid-level versions with the primary weapons, like the Combuster and the Shock Ravager. Eventually, you can pick up the Alpha-Disruptor. This is definitely my biggest gripe about the game.
Besides the 3 complaints above, the experience is quite enjoyable. The graphics are, once again, superb and beautiful to behold. The sound and music are very "swashbuckly" and make me wonder about lawsuits from Klaus Badelt. The dialogue between the pirates is especially humorous. The gameplay hasn't changed much with the notable exception of Ratchet's magnetized wrench. This new ability is used to move things at a distance, usually platforms of some sort. Ratchet can also grab things with his wrench, such as flaming rocks and glowing blobs.
A $10 price tag would have made this a little less complaint-worthy, but if you liked Tools of Destruction and want something new, then pick up Quest for Booty.