To me this is Elton's best album. It represents everything good in Elton John music: chock full of memorable lyrics and tunes you find yourself singing long after they're done.
You get some of Elton's greatest hits ("Someone Saved My Life Tonight," "Philadelpia Freedom," and his cover of "Lucy in the Sky With Diamonds") along with lesser known masterpieces ("Curtains," "Tower of Babel," and "We All Fall in Love Sometimes"). All in all, the album as a whole is nothing short of fantastic. I'm able to put it on and listen to it straight through without having to hit the advance button.
"Curtains" is probably my favorite song on the album: "I used to know this old scarecrow, he was my song, my joy and sorrow..." You also get the added bonus of three singles that weren't on the original album: "Philadelphia Freedom," "One Day at a Time," and "Lucy in the Sky With Diamonds."
I was digging through my old albums and found I had the original album. The detailed artwork is amazing. There also was a lyric booklet as well as a Captain Fantasic poster. While I like CD's, you tend to miss out on this sort of stuff due to size constraints. It's really pretty cool.
If I were to limit myself to only one Elton John album that I felt was representative of his career, this is the album I'd get.