The Prince is filled with practical advice on how to conquer and maintain a state. The only standard is whether it is effective or not. This leads to a amoral book. Yet, I found some gems of wisdom and truth in this book, not because Machiavelli was looking to explain what is right or wrong in a moral sense, but what works and what doesn't work. This lends greater credence to those true and good principles that found their way into his book. This reminds me of Will Durant, an agnostic, who started to appreciated the role of religion, not because he was necessarily a believer, but because of his study of history, he saw the good that religion did.
One of the true and good principles in The Prince is the principle of preparation. He talks of how leaders should prepare for crisis and distress while the political climate is peaceful. He also notes how many princes neglect to do this. President Monson has said that when the time for action has come, the time for preparation is over. I have seen many times in my life where I missed out on opportunities because I was not prepared. It is a most humbling and bitter feeling.
Nations can prepare or not during times of plenty. The U.S. government did not prepare during the times of plenty for the current economic crisis. In contrast, I have heard that Chile did save up money when times were good to help weather this storm. What a state we are in when nations in Latin America can think more long-range than us!
Another truth that Machiavelli mentions is that it is better to be active than timid. He talks about how God or fortune will not do things for us, they can only provide the opportunities. This inspires me to be more active and seek to make my fortune instead of relying on a sense of entitlement that it will come to me.
In short, while The Prince is an amoral book, there is still truth to be found in it.