Fuck it, I'll bite.
I bought it. It would have made a TREMENDOUS 3 disc set--pretty much the greatest treasure-trove, in the form of a 3 disc set. I really, really like the early years (disc one)--full of little lyrical and musical tidbits that would show up much later.
I could cull, oh, I'd say another disc's worth of songs together for another disc--things you've yet heard, interesting renditions of songs that would appear later, that sort of thing. Many of these songs appeared on an early bootleg tape (or three tape collection) from the 90's. I can't remember the name, but it had all of this stuff and a lot more. Why they didn't just release that is beyond me. One song, "War Song", is ALMOST a great song. Marred by some meandering bologna, but it almost gets there.
The already released live set from Filmore is incredible, and I'll assume you've heard that already. If not, and if you want all the pretty pictures and whatnot, go for it. I bought the cd version (blu-ray is the new 8-track), as I'd like to actually listen to the thing.
There's no way I WASN'T going to buy it. But, after the initial shock of actually having it, after waiting for so many years, I'd say it's a not at all essential.
Through itunes you could easily put together a great set of songs.
When will they finally release Toast? RIGHT?!?!