I picked up this one along with Springsteen's new release today. I've gotta say they are both great records.
I've always liked Emmylou's voice - especially when she's singing harmony vocals. They both sound really good together on this one. The last record I can think of where Emmylou sounded this great singing harmony is Willie Nelson's Teatro album. (Produced by Daniel Lanois) I've always preferred her in collaborations like this one as opposed to solo. (Whether if it's with Dolly Parton, Linda Ronstadt, Neil Young or of course Gram Parsons) The one solo album of hers I don't mind is Wrecking Ball - mainly because of Daniel Lanois' production.
She only wrote two songs for this one. The rest were written by Knopfler. I think my favorite song on the album is one she wrote called "Belle Starr."
Mark Knoplfer has such a distinct guitar sound. He's always sounded good in a folk/country setting. I remember getting his Golden Heart album when it came out and being somewhat surprised at how great he sounded on the celtic numbers. Quite a bit different than his work with Dire Straits. (And better in long run IMHO)
Anyway, if you like Neil Young's Prairie Wind album, I think you would like this one.