This was the first Dark horse outing with Conan I ever read, and ultimately it's a decent enough book. Each Story needs it's own individual rating in order for this TPB to be fairly judged.
Story number 1: The Horror of Uskath Hill
When we last left our brave barbarian, he had successfully triumphed over Thoth Amon's avatar, told the Bone Woman to piss off, and not only earned a healthy amount of Gold from Kalanthes for all his troubles, but also hooked up with his friends from issue 9, who are heading east into Corinthia. The previous issue ended with Conan proudly declaring that he could now handle anything civilization threw at him. So naturally Conan is promptly proven wrong when his so called friends not only make off with his gold while getting him drunk, but also left him to pay the bill, which is hefty I might add. Conan is understandably pissed, so he takes his anger out on the poor innkeeper, tries to track his friends down, and when that fails, vents his anger on a kid, and than promptly decids to sleep on Uskath hill which is nearby, dismissing warnings that it’s haunted. Sure enough, the townspeople are proven right and Conan finds himself in the fight of his life against four hungry demons who are finally glad to have real food after 200 years of beating each other up to pass the time.
Analysis: One of the common complaints against Howard's creation is that he's a gary stu who does everything perfectly. This story helps put a nail in that coffin admirably. Despite having just come out of a brutal battle with the deadliest dark wizard alive, Conan is still pretty green behind the ears, and has a lot to learn. The fact that he is able to realize that his behavior towards the little boy and the innkeeper shows a more human side that increases his likability. The exposition of how the demons came to be is servicable (Basically there was this mage ingus kutha, who kept sacrificing virgins to fuel magic. Eventually the family's of all these girls had enough, formed an angry mob, and killed the bastard, but not before he was able to partially summon the four demons). The dialogue is a little forced at times, and the way conan triumphs (he finds a dagger that still has Ingus Kutha's essence on it) is sort of contrived, but all in all it's a perfectly good story that easily sets the stage for new adventures.
Story number 2: The City of Thieves
Conan has come to the city of thieves hoping to learn the tricks of the trade. Eventually he finds a contact, who attempts to double cross him. Big mistake. Conan manages to replace the guy as his partner, hooks up with the guy's mistress, and than leaves town to beat the shit out of the innkeeper from the previous issue.
Analysis: Storywise there was nothing terribly wrong. Conan's struggles to make his way in the city, and the difficulties he encountered were very well done. He makes believable mistakes considering that he's from a barbarian tribe that doesn't really teach much about commerce and thieving) and the way he turns the tables on the guy planning to double cross him is awesome, if a little cold. The only problem was the fact that the contact, Raffik, looks a lot like the stereotypical hooked nose jew, which created a lot of unfortunate implications.
Story number 3: The crown of Tiamat
Conan's luck has reversed, and now he's fairly comfortable. He has a steady flow of income, a hot girlfriend....) it seems good. One day, while he and his girlfriend are out they see the high priestess of tiamat parading through the city, as well as the hounds of marduk, hunting for the bastard who stole their god's sacred treasure (hint, it's conan). Conan, deciding that he wants to have sex that night, and realizing that his girlfriend is more open to the idea when given something nice, decides to steal the priestess's crown. On the way out he runs into one of the guys who ripped him off (Jiara), and she persuades him to hear her out. Conan decides to leave her with some money, with the idea being that he will believe her if she doesn't take it. He also leaves the tiara. the girlfriend returns, the monster that comes to reclaim the crown wipes out the guards of marduk, and Conan hooks up with Jiara
analysis: This is sort of problematic. Howard's stories where never entirely palatable by modern standards (the guy grew up in the early 1900s in the deep south, it's kind of expected) but honestly, considering that later writers have at least tried it's irritating to see something so fucking shallow. the first girl, Tianna, is portrayed as a golddigging harlot who will fuck anyone who gives her nice things. Jiara is also a gold digger, who survives only thanks to Tiana arriving and being eaten by the eldritch abomination that came to get the crown. The art's good, but the sexism is kind of egregious.
Story 4: The Tower of the elephant
This story covers multiple issues, and is easily the best in the whole book. Conan decides to raid the tower of the elephant (home to the most evil wizard in the city) and make off with the man's treasure, the heart of the elephant. On the way in, he meets another thief, taurus of nemedia. They form a truce to try and get the jewel, but Taurus gets killed by a giant spider inside. Conan finds the jewel.......and this elephant alien from space. The alien tells conan his story, which is pretty damn cool, than asks Conan to kill him pour his blood on the jewel, and enact a spell on Yara for imprisoning him and making his life a living hell. Conan does this, and escapes the tower thanks to the elephant killing all the guards.
Analysis: this story is awesome. The dialogue is good, the artwork is good, and the characters are good. Conan and Taurus's interactions are golden, and Yag-Kosha (the elephant god thing)'s story is both moving and tragic. You can actually see him being reduced from a powerful but benevolant god to the slave of a monsterous wizard interested in power. Hence Conan helping him take Yara down is infinately satisfying. The sexism that plagued the last story is non existent, which is also good.
All in all, it's not as good as the previous installmant, but it's a damn good read nonetheless, provided you can stomach some rather unfortunate implications in two of the tales.