My first experience with Will Eisner and I'm not as impressed by his work as legend portrays him. But I did find the reading enjoyable and I love the illustrations and the colors.
Being a collection of weekly comics that fit into 7 pages, they are limited in what they can achieve with the narrative and usually have to keep it straight forward and avoid subplots and red herrings. There are also no multi-part stories in this volume, but there is a vague continuation between the stories, without becoming a proper arc. I don't mind that they are dated and I like that the author doesn't shy away from violence and killing characters, but I just think overall they are not that great.
The Spirit is a one dimensional character that solves everything with a punch or a kick, making the stories where he's sidelined the better ones.
I'll give it a 3.5 and encourage you to give it a try, especially for the quality of the print, but I don't think I would buy other volumes.