Jay-Z's not stupid, and though he can be sexist he also respects his mother and has had a pretty steady relationship with Beyonce. I personally like his Blueprint album better, but this one is also good. He's a thug, but a smart one.
If your kids go to high school I guarantee they have heard every word said in the album. Its Jay-Z doing what he does best which is igniting controversy. The 99 problems song is really just a metaphor if you listen to the song he talks about being racially targeted. This is a guy from the inner city streets talking about the world he grew up in and the fantasy life he now lives.
Families can talk about what (if anything) is appealing to them about this music. If teens say they just like the music, ask them how they can ignore or rationalize the violence and intolerant images on the CD. Another good topic to discuss is what message about life do you think Jay-Z wants to get across to his audience?