In case you haven't seen it - Hebdomeros has a nice review of "The Sandman Papers" here.
I agree with it, mostly -- but I also wish the book hadn't focused so heavily on Shakespear. I'm not a fan of "A Midsummer Night's Dream", even in the Sandman I never quite got why everyone went nuts about it. Not that it's a bad story, but others impressed me far more, and I think that four out of twelve essays is a bit much.
I'd have liked more visual stuff, too. I mean, the essay about Daniel!Dream's clothing style was a step in the right direction. But Heb's right; it's a very... academic, text-based collection.
On the other hand, we get stuff like a look at feminine power in The Kindly Ones or queer language in Foxglove's and Hazel's relationship. You can't say they didn't try to include a broad range of subjects.