I'm a fan of Shakespeare, but I often have trouble fully enjoying his plays because much of the humour and character motivations are lost on me as a modern reader/viewer. This collection is excellent because it completely updates the stories, using modern English and great ingenuity to work them into contemporary contexts which justify the often bizarre actions which occur in them. My favourite is The Taming of the Shrew, which in my opinion is one of the most difficult of Shakespeare's plays to make palatable, much less entertaining, to a modern audience. Today we respect a strong, opinionated, independent woman, and the idea of a man "taming" his wife makes most people's skin crawl. A clever back story and exquisite casting make it a true delight, and subtle plot tweaks make the characters understandable and lovable, in my mind vastly improving on the original, while remaining surprisingly close to it in basic story.
I could babble on and on about how great they all are (except, possibly, A Midsummer Night's Dream, I'm not too keen on that one), but basically, if you're considering buying this collection, just do it, you're getting 4 full-length, polished, entertaining movies based on Shakespeare, for the price of one (expensive) movie. Even if you only like one, it's still worth it!