Not quite on the same level IMO as the original Weird Tales but still worth a look if your local stockist has a copy.
Um, as someone who has had (and read) something over 50 issues of the original incarnation (said issues scattered from 1926 to 1953), I'd be careful about saying something like that. There was a lot of crap published in that magazine. A
lot.... However, at its best, it certainly earned its reputation as "The Unique Magazine", and did more to promote modern horror and dark fantasy (and fantasy in general) than 95% of the other magazines which dipped into those realms until the latter quarter of the twentieth century.
Nonetheless, I would be reluctant to see an anthology of tales garnered from the old red-covered standby, as it has had
numerous anthologies either cull from its pages, or take their entire contents from its run. Everything from the Selwyn & Blount "Not at Night" series edited by Christine Campbell Thompson as far back as HPL's heyday, to Weinberg's
Far Below and Other Horrors published in 2003 (as well as Marvin Kaye's
The Best of Weird Takes: 1923, published in 1997). In the process, the majority of the best things have been anthologized and re-anthologized, so that any new collection -- unless it chose to include a fair amount of mid-range to awful tales, sort of defeting the "Masterworks" idea -- is bound to have a considerable amount of repetition with other, already existing anthologies, most of which are not that difficult to find or that expensive.
As for the newer incarnation: they have also published Moorcock and Pugmire, as well as a host of other notable contemporary writers in the field....