The biggest thing about the Fall of Reach was to tell the origins of Master Chief, and about Dr. Halsey. The source of Cortana's AI mentality. Cortana was shown to be kind of a younger, more innocent, version of Dr. Halsey and how Halsey's inner feelings for John reflected more on her AI. Cortana's choosing of Master Chief amusing Halsey as it kind of was a tell-tale who she came from, done in such a fashion as a mother, who lets her daughter choose who they go to the dance with.
Oddly enough, they tried to kind of shoehorn, in Halo 3, some of that from Fall of Reach, into the game. They even used some of the exact words from the book, though I only say shoehorned as it just felt a little forced, at the exact timing when they did it. I would've rather they revealed those aspects (in game) stretched over a longer period of time instead of all at once, just during a stint where you and Cortana were separated.
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