Actual rating: 3.75 stars.
Before I get started, I'll admit that I'm not all that versed in all things steampunk. My knowledge is rudimentary at best, so I might not have any idea what I'm talking about here.
In my opinion, the steampunk elements of this book were handled quite nicely. There were airships and other things I won't mention due to them being spoilers, but they were very worked very seamlessly into the plot, and didn't feel like they were only inserted in order to label the book 'steampunk'. (Unlike the only other book I read that was labeled 'steampunk'.)
I liked the fact that despite this being an alternate universe Victorian London, the social mores of the time were still observed.
Characterization was fine, the action was tight, and the explanations of the technical aspects of the book were easy to understand.
My one problem was that then ending was a bit too abrupt and things were resolved a bit too quickly. That's what kept the book from being a full four stars for me. But other than that, I thought it was a great story, thoroughly enjoyed the ride.