Just bought it! Though I won't have a chance to start on it in earnest until tomorrow, I have read Christopher Tolkien's Foreword. First impressions: The lays themselves are shorter than I expected; each 'half-line' is actually printed as a separate line, and there are only 24 per page. I for one am very glad that the book is filled out with Christopher's commentary and with material from Tolkien's lectures on Old Norse. The book has a very nice look and feel, and the wood-carving-style drawings preceding each section are a nice touch.
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