Richard Posner seems to have taken a course in missing the point (actually more than one, concerning "The Game," the detection/oddity issue, and the whole idea of fiction), at least for this article. I actually registered for The New Republic just to read it. Interesting, though. He, like I, notices the Imperial bent, but he draws different conclusions than I.
My thoughts: The Annotated Series, three of the volumes of which I own, is quite good. But I'll wait on this one, at least until volume three. Plus, I own both Baring-Gould (who seems to have had a bit of an Annotated Series of his own) and Oxford, which do a good job covering it from both angles.
I wonder if all of Klinger's individual volumes are included in these. In both cases, there's the money thing too. We'll see.