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Hits:
"Chain Home, Low" What happened to those affected by Dream's disappearance?
"Each Damp Thing" Barbara Hambly has a good grasp of Gaiman's cast of characters. Set in The Dreaming this one would have made a good comic.
"Seven Nights in Slumberland" Little Nemo? Now Windsor McCay's work makes more sense. I think.
Both Wanda stories. A character that certainly warranted more examination than the comic allowed.
"Endless Sestina" For the sheer nerve of it.
"The Gate of Gold" The flip side of "The Writer's Child," but much more fulfilling. There really are "good" dreams.
"A Bone Dry Place" Dream and Delirium together again.
"The Mender of Broken Dreams" The concept is not new, but it is so well written you won't care.
"Valosag and Elet" There are so few folktales being written anymore. At least good ones.
"Stopp't-Clock Yard" Captures the true essence of Gaiman's creation. This is another one that Gaiman could have written.
Misses:
Desire stories. This character is tedious as all stories end up being variations on the same theme. Especially "The Witch's Heart" it goes on and on....
"The Birth Day" A clever idea but not fully developed.
"Splatter" A little obvious.
"The Writer's Child" Ditto.
"Ain't You 'Most Done?" 32 pages long and I couldn't remember what it was about by the time I finished the book. And it's one of the last stories.
Advertising Clive Barker's participation. It's a frontispiece and it's Death not Dream.
Taking an existing character, whose popularity lies in a graphic medium and using him and his supporting cast as the basis of an anthology is a risky proposition. While this book is not entirely successful, it's definitely worth a read for the Sandman fan.
It loses a star cause there's no actual Gaiman stories (although his comments at the start of each book are nearly as interesting as the stories - 'what Gandalf's rock'n rolling younger brother would look like if he were secretly a pirate' is a truly funky description for anyone).
For me the best are the Barbara Hambly, 'Stopp'd Clock Yard' and the 'Ain't you the most done' stories - the collection does veer pretty wildly between cool, cute 'n funky and seriously weird / sick.... Depends what you like. Like the comics, don't let children read it.
I recommend you get this book from the library before you spend the cash at a store.