Real to Reel was recorded on 5 March 1984 at De Montfort Hall in Leicester, England and 19–20 June 1984 at the Spectrum in Montreal, Canada.

[3] In addition to two songs each from the first two albums, Script for a Jester's Tear (1983) and Fugazi (1984), the original LP version[nb 1] contained two tracks previously not available on any albums, the A-side of the band's 1982 debut single "Market Square Heroes" and "Cinderella Search", the B-side of "Assassing".

The CD[nb 2] and cassette versions contained an extra track, "Emerald Lies" from Fugazi, recorded at the Spectrum.

Writing for AllMusic, Eduardo Rivadavia praised Real to Reel in a three-out-of-five star retrospective review.

[6] In 1997, the album was re-released as a two-disc set bundled with Brief Encounter, an extended-play originally made by EMI's American label Capitol Records to promote the band's 1986 US tour.