To those of us who lived through the early 1990s and know the scene from whence My Bloody Valentine came from, this is a bit of a laugh. It's not like this is not a welcome "comeback." It's just that MBV were a joke, and I don't think people realize exactly why they were a joke.
I already own their "original" catalog so I doubt very much whether or not I will go out and acquire the early material. I don't know what Shields could do to "improve" Loveless since it was a famously fussed with record to begin with. I would think that putting out live material would be of interest, but I don't know if they are going to go that route just yet.
MBV's second album was a ridiculous and indulgent affair that essentially bankrupted Creation Records. If that money had been spent pushing other artists, Creation might have survived as a major label, but perhaps not. The third album was largely considered the work of a demented Kevin Shields who had a hard time figuring out where to put the microphones in front of the tilted amps. The rest of MBV were along for that ride, and I don't doubt that they are a little relieved that their work is coming out.
What's funny is that the NME forgot that Shields was in Primal Scream years ago, relegated to strumming the guitar and staying out of the way.
Anyway, bless that mess. I hope the kids buy it in droves and find it interesting.