Well, I'm embarrassed because I loved it although I never took it too seriously as a theory... more a jumping off point for ideas to write with!
I think - but don't quote me - that a lot of it is based on theories of Velikovsky; a jewish guy, trying to establish when, exactly, in history the exodus was.. I think he began to look at other texts contemporary with the old testament, for more info, mainly and discovered there are certain legends/stories/events common to all religions... as I understood it, Von Daniken took that added a bit more imaginative thought and sensationalism and there we are... I've tried to read Veilikovsky but it's incredibly dry and academic, I found Von Deniken easier to read...!
I do think his reasoning and scholarship is flawed but you know what Einstein said, "imagination is everything" there is a certain amount of stuff that is only here because things like James Bond films created a desire for it...
Cheers
M T M
bit.ly/MRF2SW
www.mtmcguire.co.uk
;-)