Is this any good, I hear Fellini directed a segment.

Yes, his segment is brilliant. That segment alone inspired a number of movies (such as Mario Bava's "Kill, Baby, Kill!"). The others are good, too, in a low-key way.

Definitely.

Please note that I do not have any edition of this, I am just reporting what I have read online.

The current HVE disc does not have the English dubbed soundtrack, which in the opinion of many is the best one for viewing the Fellini segment (Terrence Stamp performs in his own voice). The previous Image disk had the English soundtrack available, but subtitles were burned in for all of the dialogue (there was some in Italian or French); the preferred option is for no subtitles on the English, or perhaps for no subtitles at all, to leave the foreign language "foreign" and unintellibible.

Presumably the rights to the English dub are held by a different party (perhaps now Sony through MGM->Orion->AIP) and weren't available for licensing at an agreeable price.

There are a couple of threads on this at the Home Theater Forum, and some info at Mobius, which I believe is still down.

www.hometheaterforum.com

www.mhvf.net

There's actually a great version of this film available online at diabolikdvd.com under the title "Historias Extraordinarias.'

It has the English and French soundtracks and a nice anamorphic transfer.

Here's the link:
http://cweb2.millenianet.com/cgi-bin...f%20the%20dead

I eventually saw this, and I thought it was pretty damn brilliant. Fellini's segment, at least. Liked it so much, last year, while working with an emcee out in Brooklyn, decided I was going to use the visuals from it to make a mash-up video for the emcee. I threw it up on my blog, and I know I'm late as shit, but take a look:

http://5846.tumblr.com

i was excited to get the new remastered DVD version a few years ago.
After I watched it , I was kind of disapointed.
I did like the Jane Fonda segment but after that it just lost me.