[1] The song, which became a favorite of the swing era, recalls the proverbial expression "it seems too good to be true," and alludes to the singer's presumed love interest.
[2] Musician-author Warren Vaché called the song "a little gem" that was "promptly slated for immortality with an outstanding recording by the Benny Goodman Trio featuring Helen Ward on the vocal."
Musician-writer John Goldsby noted that "Too Good to Be True" is among the songs that exemplified Crosby's early playing.
"You can hear the seeds of Israel's melodic style, especially in the eighth-note countermelodies he plays behind Chu Berry's saxophone solo.
"[4] Trumpeter-writer John Chilton described Berry's solo as "a ravishing interpretation of the 32-bar theme" and suggested it was reminiscent of Coleman Hawkins' saxophone playing on the 1933 song "The Day You Came Along".