Fairy tales were never meant to be the exclusive purview of childhood. As Lester Del Rey notes in the Foreword to this collection, "the gate to fairyland should never be closed to anyone because of age and adulthood. So "to open it wide in welcome," he and co-editor, Risa Kessler "decided to assemble this book. "In it [they have collected stories of highly sophisticated skill, but with a sense of wonder and the love of myths and magic that were found in the classic fairy stories--truly modern fairy tales meant for mature, adult readers" (vii).
Herein, "Ten of the top writers of fantasy present their views of the ways and byways of fairyland." The reader will find among these ten tales, a tale by Asimov of "A most unusual knight and even more unusual dragon," a story of a "hermit boy [who] didn't know his pet fawn was a unicorn," by Susan Dexter, and C.J. Cherryh's tale of "Three wishes--and the strangest love story ever told" (back cover). Other writers include Terry Brooks, Katherine Kurtz, Barbara Hambly, and Anne McCaffrey.
I liked all the stories, with perhaps Kurtz's story of a fairy's love for a holy man my least favorite, and Lawrence Watt-Evans's tale of a unconventional dragonslayer my most favorite.
A good collection and if these suit the reader's fancy, I would also suggest the 6 volume series of adult, modern fairy tales collected and edited by Ellen Datlow and Terry Windling.