The film is good, but the book was great.
Straight Time is a decent adaptation of Edward Bunker's No Beast So Fierce. Bunker had a hand in writing the screenplay, and had a bit part in the film (he plays the guy who tips Hoffman to the poker game). But it really pales in comparison to the novel.
The novel is superb. It had a tremendous effect on me when I first read it and I find myself rereading it every so often just for the pleasure of Bunker's prose and the character of Max, who is a fascinating creation.
Bunker wrote a handful of novels, an autobiography (Mr. Blue) and at least one short story collection that I know of. He was a career criminal before he got published, and he also became an actor and screenwriter. Most probably more people know him as Mr. Blue from Reservoir Dogs than anything else.
Which is a shame, because he truly was an outstanding writer. If you thought highly enough of the film to be reading this here, please do yourself a favor and read No Beast So Fierce.