This anthology, overall, is IMHO quite horrible. There are so many disgusting sexual references and appearances of excrement that one wonders if it was a requirement for the stories' acceptance for the book... In particular, "Walpurgisnachtmusik" brings to mind the ludicrous over-use of the F-bomb in the first 10 minutes of Tarantino's "From Dusk Till Dawn."
The only reason I don't condemn it entirely is that there are a few good things in here. Most notable is Coulthart's graphical adaptation of "The Call of Cthulhu," an excellent adaptation indeed. Some others stand out- Lumley's "The Night Sea-Maid Went Down" (a reprint, admittedly), Conway's "Black Static" (just ignore the unpleasantness at either end), Webb's "The Sound of a Door Opening," Moore's "The Courtyard" (again, dodge the few unpleasant bits, which seem especially superfluous here), and Mitchell's "Ward 23." Campbell's "Potential" is tolerably good, as well.
In short, if you can buy this book cheap, it's probably worth it; otherwise, give it a pass until you can find it cheap. If nothing else, buy it for the Coulthart segment, the one part that Lovecraft might have truly considered a tribute...