Two of the tracks (the title song and "Ace in the Hole") were recorded live at the Agora Theatre and Ballroom in Cleveland, Ohio in September 1979, while the rest are studio cuts.

This reissue contains four bonus tracks, including "Soft Parachutes" and "Spiral Highway" (an early version of "How the Heart Approaches What It Yearns") both of which were featured in the film but were missing from the original album release.

Also included in the re-release were the outtake of "All Because of You" (an early version of "Oh, Marion" that would also spawn "God Bless the Absentee") and "Stranded in a Limousine", which originally appeared on the 1977 compilation Greatest Hits, Etc..

Billboard said of "One Trick Pony" that "The mellow jazz flavored arrangement features superb guitar, keyboard and percussive support while Simon delivers a convincing vocal performance.

"[5] Record World said that "Simon sings about the fate of an aging rocker while Eric Gale's lyrical guitar adds emphasis on this superb title cut.