It's easy to see why some people would claim this was Queen at their peak. This is a very solid concert, very high energy, and very Queen.
Of course, there are flaws in the actual video, due to the date of the concert and the lack of huge budgets for live videos at the time. These shouldn't be a problem for your enjoyment, however, unless you really dig picture perfect presentation. Queen was more about the show anyway, and the sounds are pretty top notch. The visual performance is every bit as good, even if the video doesn't always capture a picture perfect reflection of it.
My only real issue is that Brian's vocals appeared to be heavily buried in the mix. I know that Brian has never had the presence of Freddie or even Roger, but his vocals should be a little more obvious. This could, however, be a flaw in the actual recording of the concert, and doesn't ruin the disc at all.
Otherwise, Freddie Mercury is on the entire night. Queen's presentation is simply excellent. This is, perhaps the only chance to catch "Hot Space" tracks in full versions on video (Action this day, Staying Power, Backchat). While the hot Space album is considered by many fans to be the low point of Queen's career, it's part of the Queen experience (And I am personally a fan of Staying Power and Backchat). Hearing "Hero" from Flash Gordon live is also a solid option.
The high points of this show are many, but include: We Will rock You (Fast), Somebody to Love, Now I'm Here, Dragon Attack (on of my favorites), Back Chat, Get Down, Make Love (The visual presentation in the bridge of this song is amazing), Fat Bottomed Girls, and Tie Your Mother down.
In total, this video does capture Queen in a strong light, whether this is at their "peak" or not. Highly recommended to Queen fans, or just fans of a good live show.