I attended the concert on the first night in LA, from which a majority of the material here was drawn (I actually stuck it out 'til the 2:00 am conclusion!) What drew me to the show is much the same as the appeal of this set - the chance to see 30 or more of your favorite singers and musicians on the same stage (and a few who you could do without), playing songs from what just might be the greatest and most influential compilation (or "mix tape") of all time! At the very least, this is a very nice souvenir of the event. The interviews and backstage/rehearsal footage in the DVD are very illuminating and are ample testimony to the mad genius of Hal Willner (creator/producer).
Some of the performances here are a lot less impressive that my memory of them, while others (David Johansen, Richard Thompson and Elvis Costello, among others) hold up very well. Willner should be commended for showcasing criminally underrated artists like Robin Holcomb and Van Dyke Parks, as well as for pushing some people (like Beck and Beth Orton) out of their comfort zone material-wise, resulting in some very memorable performances. Some of my other favorites here: Sonic Youth (with trombonist Roswell Rudd) burn up the stage on "Dry Bones", David Thomas is an insane genius, Bob Neuwirth, Geoff Muldaur and Steve Earle all individually show they are up to the task.
There were some classic moments from the night I attended that didn't make it to this release, including Garth Hudson's bizarre and amazing "Recessional Music" on the Royce Hall pipe organ, and Daniel Lanois' mini-set of the Anthology's Cajun songs (accompanied by his super-loud electric guitar). The pre-Mighty Wind Folksmen, introducing some much needed perspective, are rightfully represented here. However, not included was their version of "Flashdance," which somehow said it all (the audience were larfing). Also, not to be forgotten was Mary Margaret O'Hara's train wreck version of "Better Things" (which is represented here by a less chaotic version from a different night). It caused a mass exodus - as it was about midnight at that point, a lot of people were probably suddenly remembering they had babysitters or jobs to go to in the morning!
Being a lot more familiar with the original Anthology recordings now than I was prior to the concert, I am probably a lot more critical of these interpretations, some of which are frankly a bit superficial. Also, it is a bit more noticeable, especially on the DVD, which performers hadn't done their homework and learned the songs thoroughly before the show! On the other hand, some of the versions here caused me to have new appreciation for the songs themselves and really focus on the brilliance and bizarreness of the lyrics. A lot of contemporary songwriters could stand to check them out..
On the technical end, the camera work on the DVD is a bit "on the fly" but not too bad considering there was probably very little rehearsal/blocking. Audio-wise, the recording quality is much better than expected (I'm guessing there was a litlle bit of post-production repair, including fixing some fluffed lyrics). The second DVD ("Old Weird America") that delves a bit more into Harry Smith and the origins of the Anthology, has been shown a bit in art house theaters around the country and is almost worth the price of the set by itself.