Of the 27 stories here collected, I ended up marking 12--almost half--as enjoyable enough to reread in future, making the book worth adding to my permanent collection. As with any anthology, your mileage may vary--it almost certainly will!--but my own favorites included Diana L. Paxson's "Stopthrust" (in which we find warrior-princess Shanna fighting as a gladiator and trying to make it to her 500th kill, which will earn her freedom), Phil Brucato's "Elynne Dragonchild" (the story of a girl adopted by a dragon and forcibly returned to the human world after her reptilian protector is killed--anyone who has read a lot about Indian captivities and their frequent outcome will find this a fascinating take on the same theme, though the author may not have intendeed it as such), Jessie D. Eaker's "Blademistress" (a wounded fugitive warrior unwillingly takes an orphan girl under her wing), Patricia Duffy Novak's "Sorcerers' Gate" (a foster mother dares all to save the child she has raised from being sacrificed), Elisabeth Waters's humorous "The Birthday Gift" (a princess finds that a magical gift is not necessarily a blessing), Laura Underwood's "Tangled Web" (a young weaver braves a gloomy castle to save her minstrel brother), Josepha Sherman's "Red Wings" (a half-human air elemental forms a strange bond with a healer-priestess), and, of course, a new installment in Mercedes Lackey's adventures of Tamra and Kethry, "A Woman's Weapon," in which the duo must save the life of a guildmaster being slowly poisoned by a rival. Not all of these qualify as "sword and sorcery" under my definition of the term, but all are fantasy, and all I found quite to my tastes.
Incidentally, the cover painting here is my favorite so far of those on these anthologies: a 3/4 portrait of a female warrior against an Alhambra-like backdrop--proud, competent-looking, and sword-edged handsome. (The artist is David Cherry, who may be worth seeking out elsewhere.)