There is much to commend about this recording. The singers are very good: nice voices, and excellent diction. [I bought this primarily as a tool to help memorize one of the roles.] The orchestra is excellent, though I don't care for all the rubato the conductor employs.
On the downside, the recording is a bit too bright for my taste -- almost tinny in places; I don't know if this is due to the original sound engineer or the digital transfer, but it's not great at all. And to get all the music on a 2-sided LP originally, the tempos were taken very briskly -- however, the famous waltz is given the leisurely pace it deserves.
If you're looking for "Merry Widow" in English, this is a very good choice. [Avoid the Sutherland recording like the plague!]