[2] Approximately thirty of those songs received professional recordings during the sessions for what would become 1999's The Aquabats vs. the Floating Eye of Death!, with only fourteen ultimately selected to appear on the official album and the remaining tracks released on Myths & Legends.

[3] Much like Floating Eye, most of the tracks on Myths draw heavily upon punk rock and new wave-influenced sounds, with a pronounced usage of keyboards and synthesizers.

The compilation also includes songs in synthpop ("Worms Make Dirt"), ska punk ("Pizza Day") and jazz ("Radiation Song") styles, as well as a parody of nu metal bands such as Korn and Limp Bizkit ("I Fell Asleep on My Arm").

Myths & Legends also marks the last appearance of co-founding trumpeter Catboy, who would leave the band in 2002 though later rejoin as an official member in 2024.

Jeremy Salmon of Allmusic gave Myths & Legends two stars out of five, saying that "for all the weirdness, oddballity, and the delighted sense of stupid that one gets from the songs, one is disappointed by their uneven quality.