Other than the identical title, it is completely different from the 1971 "Greatest Hits" album (which covers the early Peter Green incarnation of the band) and the two releases have no tracks in common.

The 1988 album draws only on recordings from after Stevie Nicks and Lindsey Buckingham joined the group in 1975, omitting earlier hits such as "Albatross" and "Oh Well".

It peaked at number 14 on the US Billboard 200[4] and sold steadily over the years since its release, and has to date been certified 8× platinum for shipping eight million copies there.

In the United Kingdom, it reached number three upon release and has returned several times to the UK album chart[5] and has been certified triple platinum for shipping 900,000 copies there.

Rick Vito, who was one of the two guitarists to replace Lindsey Buckingham, described the compilation album as "a presentation of the new band" and "the ushering in of a new era".