I started reading this directly after The Greek Myths: The Complete and Definitive Edition as it was referenced several times in that text. I quickly realized that I'd been somewhat spoiled by Graves's work: the cross-referenced, presented and then academically broken down myths of his book were overwhelmingly illuminated, while in Tales there are simply four stories presented in plain English alongside some very beautiful illustrations. I'm going to have to search for a more thorough analysis of these ancient tales, though just reading them was "fun" in the way that reading a children's storybook would be.
I would love to know how these stories were delivered originally, via oral tradition, and what audience reactions were. Much of what's presented, at least via this edition, is extremely fanciful, to the point of disbelief. But, I suppose, that's one of the roles of a halfway decent myth.