Honestly you cannot really rate a classic paper such as this.
I am not sure why it says that The Federalist Papers were written by Alexander Hamilton when in fact it was written by Alexander Hamilton, John Jay and James Madison; note there could be other authors as it was published as "PUBLIUS". At any rate the papers were written in published to persuade voters in NY to ratify the constitution. In total there are 85 essays which outline how government should operate and why.
I think this is a very important and probably underrated book. Personally it really helped me understand the intention of the founding fathers as well as it helped me understand federalism and how separation of powers should work.
The essays are relatively easy to read and they are not all that long. I think when choosing an edition a solid index is key or something which gives you the ability to cross reference.