Widely regarded as a true classic in science fiction, Nostrilia remains extremely popular and influential. Neil Gaiman and Gene Wolfe have both cited the influence of the book on their fiction.

Nostrilia is often cited as an important precursor to the cyberpunk movement of the 1980s, which was characterized by its gritty, urban settings and its focus on the intersection of technology and humanity. Additionally, Smith's unique style has been noted as an influence on a number of other science fiction authors.

The story takes place on an alien planet called Norstrilia, which is home to a unique breed of sheep that produces an incredibly valuable substance known as stroon. Rod McBan, the richest person on Norstrilia wants to circumvent the strict export laws governing the trade of stoon and gets involved in a complicated web of politics and bureaucracy in order to achieve his goal.

His ambition takes him to various places, and subjects him to various adventures and he meets a woman named C'mell, who is a member of an alien race that can shape-shift into human form. C'mell becomes a close ally of Rod's and helps him to navigate the complex politics of the ruling Instrumentality.

Overall, Nostralia is a complex and engaging story that explores many themes, including the nature of power and wealth, the importance of personal relationships, and the dangers of unchecked bureaucracy and politics. Through the character of Rod McBan, Cordwainer Smith offers a nuanced and thought-provoking commentary on the human condition and the potential for both good and evil in all of us, which is as relevant today as it was when he first wrote the book.