Johnny went through several phases; this is the end of phase two. If you're reading this, you probably wonder if you need it. You really don't, but you probably do.
First reason is the single most scorching blues-rock performance committed to record: "Rock Me Baby" will blow away any performance you've heard by any performer (possibly including Johnny himself). So that's your first reason to hear this.
Second is the fact that STILL ALIVE AND WELL is Johnny's most successfully varied album, from blues to commercial blues-rock to outright country (?!) -- he takes on all challenges and comes out the Master we knew him to be.
Thirdly, CAPTURED LIVE is a better album than AND/LIVE, even though it's drawn from a lesser tour.
OK, maybe I'm wrong. But CAPTURED LIVE has aged much better in my stereo, and unlike AND/LIVE I still listen to it in its entirety. These two albums belong together because the intervening studio albums served little more than as fodder for this live album. Hear these, and you really don't need anything else between SECOND WINTER and RED HOT & BLUE / NOTHIN' BUT THE BLUES [both of which you should definitely get], though you'll probably still get JOHNNY WINTER AND anyway (and you should).