Well, where to start, the songs on this CD show the musical how it should be presented. The singers are great and songs are fantastic. You should definitely choose this CD over the New (London) Starlight Express recording. The only thing I think the New recording has over this one is three tracks : Crazy, Coda of Freight, and the Megamix. This however has Call Me Rusty, A Lotta Locomotion, He Whistled At Me, Belle, Girls' Rolling Stock, Only He and Only You and a slightly different Light At The End Of The Tunnel. These are the basic differences, with there being others which are smaller, less obvious differences.
Starlight is my favourite musical of all time. I have had this recording on some medium or other since I was 4 (15 yrs ago) and I have managed to wear out every copy I have owned - I love it that much. I think it is probably true to say that you would have had to see the show live on stage to fully appreciate it however. This recording does sound quite dated and is quite blatantly 80s, however some of the tracks (A Lotta Locomotion and He Whistled Me) are so 80s that they would pass as cool/retro nowadays.
For anyone who has seen the UK tour recently, neither this or the new recording is completely relevant to the show, with two of the songs not available on either and others with different lyrics in the show to the recordings. I would suggest this one (although both would be ideal) as some of the sung bits between songs on the tour featuring in full here (No Comeback), and also featuring a lot more of the introductions/lead-ins to the songs.
In conclusion - the best Starlight recording I own.