This reader does as well as a job as I can imagine at abbreviating Maurice Blanchot's corpus into one volume. The essays are mostly of his early thought on literature and the fiction is that of his most important short works. Preventing the need for lots of very little, not so cheap editions of Blanchot's fiction alone makes this reader a staple for anyone interested in Blanchot. The essays are helpful, but in no way stand in for the works from which they come. If you want to engage Blanchot's thought, The Space of Literature and The Infinite Conversation will take you far beyond what staying with this reader could do. Unfortunately, the essays only present early Blanchot, before he shifted his thought from literature to writing. But still, having Thomas the Obscure, The Moment of My Death, and Madness of the Day in one volume is enough for me. If you have had no experience with Blanchot, then these essays would be a good way to test the water. If it is to your liking, just be sure to move on quickly into his actual work and not consider these essays to be sufficient in themselves.
Oh, and as a side note, a lot of Blanchot's fiction isn't light reading. Thomas the Obscure is extremely heavy. As in, 5 or 10 pages only in one sitting, heavy. Heavier than Ulysses, heavy. His fiction basically doesn't provide the reader her common, comfortable places for footing. The reader instead falls into the writing, as it were. Immensely beautiful and engaging--don't let this be a deterrent--but it does demand effort from its reader. It goes without saying that if you're interested in Blanchot, you're willing at least in part to do some of this work, but here it also means that there's much more to be gained from the effort.