Though not quite so wonderful as Amphigorey (q.v.) (if nothing else, there is nothing to equal the brilliant "Gashleycrumb Tinies" nor "The Unstrung Harp"), the first Gorey omnibus volume, if only because the very best was skimmed off for that volume, this is still very high class whimsey indeed.
Like Gahan Wilson (q.v), Gorey looks at the world in a slightly skewed manner; much of his work consists of showing or telling us something that sounds perfectly rational but does not, in fact, quite compute, leaving our own minds to struggle with the cognitive dissonance he creates.
Probably my favourite bit in this collection is "The Gilded Bat", which is a sadly perceptive story of perception and reality in the life of a prima ballerina -- even after litle Maudy Splaytoe has progressed to being enigmatic star Miriella Splatova, her life is still pretty much the same as it always was, a round of rehearsal, performance and boredom. (In a wonderful example of something or other, there was a ballet based on this work; i have never seen it, but heard an interview on PBS with the choreographer, who had had to create excerpts from three OTHER, fictitious, ballets referred to in the text...)
The two versions of "The Chinese Obelisks" present us with an opportunity to see the author's mind at work, comparing sketch and draft of text to the finished work.
The only reason not to immediately purchase this work would be if you could only afford one of them and hadn't already got the previous volume. If you DO already have "Amphigorey", then you absolutely must have this collection to go with it.