Lou Reed and John Cale spoke to one another for the first time in years at Warhol's memorial service at St. Patrick's Cathedral in New York on April 1, 1987.

[2] Still, as Cale was wrapping up Words for the Dying, and Reed had finished and was touring with his New York studio album (both 1989), the project took another year to complete.

The first full version (notably with the inclusion of "A Dream" in one performance) was played on November 29–30, and December 2–3 at the Next Wave Festival at the Brooklyn Academy of Music.

[3] On December 4–5, 1989, a live performance—without an audience—was filmed at the Brooklyn Academy of Music, directed by Ed Lachman, and released on VHS and LaserDisc formats.

In a four-star review, Rolling Stone writer Paul Evans stated "Both nearing fifty, Reed and Cale are the survivors Warhol wasn't fated to become.