Wow, I'm kind of surprised this has no reviews. For me this is an indispensable collection - Michael Richardson doesn't just do an excellent job of translating and annotating Bataille's essays while offering an incredibly useful introduction, what he collects together is probably the closest thing we'll ever have to Bataille's unfinished book on Surrealism.
Richardson has really done us a big favor putting this together: incredible syntheses of surrealist theory, eroticism, psychoanalysis, critiques of existentialism. It's exciting to read these essays, since it is here (as opposed to his earlier, perhaps for some more sensationalistic, works) where Bataille seems especially *constructive* in his critiques - much more focused and sharp. It's hard to describe how wonderful this collection is, and, as with all Bataille, I am working through it slowly since there are some heavy ideas in here. But one should probably have some familiarity with his earlier writings, Surrealism more broadly, and some of the philosophical traditions Bataille works from more broadly in order to fully appreciate this collection - this is by no means a good place to start if you are just starting to read him, but definitely (in my view, and according to the way I read him) an important book to read once you have some familiarity with his ideas and development as a thinker.
In short, this book collects some of the best, most cohesive theoretical and philosophical expressions of Surrealism as well as some great critiques of Sartre and Camus. Essential, given some familiarity with the territory.