This topic may be dead, however, I would like to add my couple of cents into it.
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I own both the current (7th edition) and the 4th edition, along with the 4th edition's study guide, for Halliday and Resnick's Fundamentals of Physics, and I have also used the 6th edition. The 7th edition, I can tell you out right, has been watered down a bit since the 4th edition, and the 6th edition is perhaps my least favorite. I used the 4th edition and the 6th edition in when I was in high school for an independent study course, and both were useful. The 6th, if I remember correctly, was my least favorite due to its design and layout; the material, I felt was rather solid. The 4th edition, which has been my favorite, was quite challenging, partly because it was the first time I actually had to really think about a problem, and partly because of Halliday and Resnick's style of presenting information in that text.
The 7th edition...well it has its moments. Sadly, I can actually find the same questions from the 4th edition in the 7th edition, and with minimial changes. The same can be said for the 6th edition. However, if you actually get ahold of multiple versions of these books, you get to play with multiple iterations of the material and can get fairly good at solving the problems.
As for the comment on "plug and chug," for the first term I can see this, for a good half of the term, consitering most of it is "Find the velocity at t=40s," but take into account many of these questions had a first part to it that required you to dish out quite a bit of manpulations of the equations and concepts. I, personally, had a hard time with quite a few of the Halliday problems for the first two terms (Mechanics and E&M), while the third term on light and wave motion, was treated very well. In fact, Halliday and Resnick shine on these categories.
Also for the comment on upper level material for an introduction course: The introduction course is designed to survey the material and give you a brief understanding of how to approach particular physical "problems" that will aid you in working through a Classical Mechanics text or an E&M text. If you are confident in your ablity to pass the introductory courses, perhaps you could talk to your major adviser and see if you can take modern physics or a physics elective course out of the standard sequence while still in the general/introduction physics course, to give you a better understanding of the material.
One last note: Memorizing the formulas in the Halliday and Resnick book's, at least in my experance, will not help you at all. Remember the concepts and the procedures taken after you worked through the problems, and you will really get everything out of this book.
There I can get off my soap box.