Many of Dunsany's most eerie and effective stories are collected in this excellent collection. TIME AND THE GODS is probably his single best work, and all of the stories from that long out-of-print masterpiece are to be found here. This should be enough to persuade Dunsany enthusiasts in favor of this volume.
For those who haven't read Dunsany, he is one of fantasy's true masters; many have imitated his archaic, elaborate style, but none have succeeded in capturing the peculiar Dunsany magic without being artificial. Dunsany's strange meditations on time, destiny, prophecy, and fate are reminiscent of Borges, and his prose is rich and (as noted) perilous to imitate.
S. T. Joshi's introduction somehow makes it seem as if Dunsany's chief merit were his influence on Lovecraft, but it is more correct to say that Lovecraft's chief merit is his influence on others, while Dunsany remains a neglected literary master, one of the few writers ever to capture wonder and mystery at their most elemental in wrappings of elaborate, aristocratic prose.