I don't know a whole lot about the Modern Lovers, so I can't place this CD in an esthetic context with their later recordings, but I can tell you that I absolutely adore these tunes. The sound quality may be a bit rough for some tastes but I think the "primitive" sound only adds to their charm. I find that the early Modern Lovers are the geeky, sensitive, poetic, nervous and twitchy, pocket-protector-proto-punk counterpoint to the primal, snarling, surging, Id-made-flesh proto-punk of the early Stooges.
On these recordings Johnathan Richman is Iggy Pop's musical little brother: raw and unpolished, determined to somehow subvert or ignore the reigning musical zeitgeist, but with more poetry and less (none, really)of the menace.
If you're interested in exploring the origins of proto-punk, or if you just want to hear Mr. Richman at his most youthful and raw then this recording is a must.