Well, after over a year of intermittent reading -- mostly "seasonal" reading in October -- I finally finished this excellent collection. It's arranged chronologically, which I found both logical and interesting, and the selection was quite varied. There were only a couple tales that I found uninteresting or not to my liking and quite a few that were excellent. Some of these were in the vein of the unsettling tales of Robert Aickman (a personal favorite), and others had a touch of macabre humor.
Reading the H.P. Lovecraft tale "The Outsider" in this book made me reread more of his work elsewhere -- something I hadn't done for years and years. Even more beneficial was finding writers I'd never heard of before that I hope to seek out in the future, such as Nancy Etchemendy, Lisa Tuttle, and Nicholson Baker. Also represented are several modern masters not necessarily associated with this genre such as Don DeLillo, Stephen Millhauser, and John Cheever. I had not read either DeLillo or Millhauser, though I'd always meant to, so was happy to have their stories prod me toward finding other work by them. (I have not, so far, done so, but these things will come in their seasons.)
Then there were the "classics," both modern and old, that bear reading again and again: Faulkner's "A Rose for Miss Emily," Ambrose Bierce's "The Damned Thing," Edith Wharton's "Afterward" (another personal favorite), Washington Irving's "The Legend of Sleepy Hollow," and Charlotte Perkins Gilman's "The Yellow Wallpaper." Add to the roster other illuminaries such as Herman Melville, Edgar Allan Poe, Stephen King, Nathaniel Hawthorne, Ray Bradbury, Harlan Ellison, Henry James, E.L. Doctorow, of course the editor herself, plus many, many others, and you've got a very fine collection indeed.
This kind of book is best kept on the nightstand and dipped into occasionally, rather than read straight through. The effect of these stories is more powerful when they are spread out. Also, I should mention that Oates' personal taste comes through quite clearly, and although she does a fine job of selecting representative American tales, the reader will note that the choices are slanted toward more artistic and subtle tales rather than straight-up horror, which is my preference as well. There are a number that don't really have conclusions as such but simply leave the reader to contemplate what may -- or may not -- have happened. I especially enjoy this sort of unresolved and cryptic story.
I only wish that someone would edit such an eclectic and far-ranging collection of British and Irish writers, if they haven't done so already. I'm imagining such a book featuring E.F. Benson, A.S. Byatt, Sheridan LeFanu, Wilkie Collins, Charles Dickens, Daphne DuMaurier, Algernon Blackwood, Margot Livesey, Kingsley Amis, Henry James (arguably British though also claimed by America, of course), Somerset Maugham, Oscar Wilde, Bram Stoker, A.C. Doyle, Robert Aickman.... well, those are just a few off the top of my head. That would indeed make a wonderful companion volume.