The Iliad is the story of the rage and wrath of Achilles during the Trojan War while the Odyssey is the story of Odysseus' ten year journey to return home after the sack of Troy. Both are wonderful stories I'm sure we're all familiar with so I won't spend time on a summary suffice to say that both are very well written, composed, and stunning in their imagery and subject matter.
What I will say about these editions is that they look fantastic. Whether sitting on a shelf or a desk, they are just lovely to look at. I'm aware that you shouldn't judge a book by its cover but they they look this good it's hard not to notice.
Robert Fagles does a great job translating both books in a manner which captures the spirit and inherent Greek-ness of the stories but makes them easy enough to understand for the modern reader. There is no middle English or half Greek or what some might consider nonsense language, the translation is very straightforward, easy to follow, and easy to understand. It takes a lot of work, dedication, and time to create what Fagles has accomplished here and I salute him for it.
If you're read these stories already in another translation I'd urge you to read Fagles as well, he breathes a different sort of life into the stories. If you've got old battered copies and are looking for new ones these shouldn't fail you ad they look lovely on a shelf together (With the Aeneid too, also by Fagles). If you've never read the Iliad or the Odyssey this set contains both at a modest price point and in the easiest to understand English without robbing the stories of their substance. Excellent work on Fagles behalf, I'll be reading these for many more years to come and hopefully you will be too!