The Naked City mention reminded me that this one came out in 1990, too.

Has (then) current Elektra artists covering songs from past artists on the label. Of course, not all of it was successful, but there were some pretty cool things that came out of it.
TRACKLISTING
Disc 1:1. Hello, I Love You - The Cure
2. House of the Rising Sun - Tracy Chapman
3. Seven & Seven Is - Billy Bragg
4. I'd Like to Teach the World to Sing - Jevetta Steele
5. Hotel California - Gipsy Kings
6. Werewolves of London - The Black Velvet Band
7. Motorcycle Mama - The Sugarcubes
8. One Meatball - Shinehead
9. Bottle of Wine - Havalinas
10. Born in Chicago - Pixies
11. You're So Vain - Faster Pussycat
12. Marquee Moon - The Kronos Quartet
13. Get Ourselves Together - Phoebe Snow
14. Tokoloshe Man - Happy Mondays
15. Let's Go - Ernie Isley
16. Going Down - Lynch Mob
17. Little Bit of Rain - Ambitious Lovers
18. You Belong to Me - Anita Baker
19. Road to Cairo - Howard Jones
Disc 2:1. Kick Out the Jams - The Big F
2. Almost Saturday Night / Rockin' All Over the World - The Georgia Satellites
3. Hello I Am Your Heart - Sara Hickman
4. Make It With You - Teddy Pendergrass
5. Blacksmith - Linda Ronstadt
6. Going Going Gone - Bill Frisell
7. First Girl I Loved - Jackson Browne
8. These Days - 10,000 Maniacs
9. Stone Cold Crazy - Metallica
10. Apricot Brandy - Danny Gatton
11. Union Man - Shaking Family
12. One More Parade - They Might Be Giants
13. I Can't Tell You Why - Howard Hewett
14. Mt. Airy Groove - Leaders of the New School
15. You Brought the Sunshine - Shirley Murdock
16. Inbetween Days - John Eddie
17. Love Wars - The Beautiful South
18. Both Sides Now - Michael Feinstein
19. T.V. Eye - John Zorn
20. Hello, I Love You (Slight Return) - The Cure
_________________
Paul Caporino of M.O.T.O. Wrote:
I've recently noticed that all the unfortunate events in the lives of blues singers all seem to rhyme... I think all these tragedies could be avoided with a good rhyming dictionary.