The encyclopedia contains 324 different chord types; 27 in each of the 12 keys with thousands of shapes and inversions.

[1] The chords are "presented in each key and are broken down into melody, inside, rhythm, and bottom four-strings.

"[2] The book has since been published in a case-size edition by William Bay, Mel's son and has spawned a series of similar books like the Encyclopedia of Guitar Chord Progressions (first published in 1977[3]), Encyclopedia of Guitar Chord Inversions, Mel Bay's Deluxe Guitar Scale Book, Encyclopedia of Jazz Guitar Runs, Fills, Licks & Lines, and Piano, Mandolin and Banjo[4] chord encyclopedias.

The song "Ode to Mel Bay" (written and first recorded by Michael "Supe" Granda of the Ozark Mountain Daredevils and featured on the album The Day Finger Pickers Took Over the World by Tommy Emmanuel and Chet Atkins), is a light-hearted song about Mel Bay's encyclopedia of guitar chords and the books in general.

Mentioned in the lyrics, written by Shel Silverstein, is: "On page 21 you showed us how to play a G and on page 22 you showed us how to play a D, but lordy o lordy we never learned to play an E, because someone in the outhouse stole page 23!