The games look and play exactly the same as they did on the Capcom Generation discs, so I'll refer you to the Volume 2 page for more info there. So if you've been wanting to play the arcade G'NG games but didn't want to emulate, import or buy the original arcade cabs, you can now do so for the low price of $20 (as of March 2007). The disc is worth it for the three G'NG games alone, but the other 19 games are also classics and well worth owning.
And on a side note, Capcom and Digital Eclipse released Capcom Classics Collection Volume 2 on the PS2 and XBox in November 2006. While it contains no G'NG games, it's also worth getting. Just like the first, it retails for $20 (as of March 2007) and contains 22 more classic Capcom arcade hits, including (among others) Super Street Fighter II Turbo, Magic Sword, Black Tiger (which is mentioned here in the Trivia section) and Strider.