I should begin by disclosing how I am a huge fan of this series, I have been since the first issue by the fan favorite (at least this fan's) team of Loeb and McGuinness delivered the first issue onto the comic shop stands.
I followed the series until they left, and then got back into it as my local library has copies of some of the collections. The general conceit of the series is to tell alternate world stories, or stories that are free from the constantly structured continuity of the Superman and Batman books which is a great way to release writers to write any kind of Superman/Batman adventure that they would like.
The collection begins with a story that finally answers the age old question of who would win in a fight Batman or Superman? I won't spoil it, but I feel it answers the question definitively. Its by Joe Kelly whose work I miss, but being one of the Man of Action team, I'm sure he's busy with Ben 10.
Less interesting but beautifully illustrated by Brett Booth is the story of Power Girl and Huntress . . . which really just . . . its dull, and doesn't really serve a purpose.
This is followed by another adventure by the creator of Izombie which takes place in the future of Superman 1,000,000 that Grant Morrison created, and while a good story it really isn't great or amazing, but it is a solid adventure tale and it is well illustrated and it has very interesting ideas sprinkled throughout. I enjoy when writers use interesting and new ideas more so than just presenting old ones in a new way the way most writers nowadays seem to do. So its a cool story, but the clear winner of this collection is the one that lends its name to it. Sorcerer Kings starts out with Shadowpact and takes us to a whole other future. I love how its a time travel story but it isn't like most that you've read.
The story features some really interesting characters, and it plays up Superman in a new way, all of this wrapped up as a murder mystery, yeah, it makes for a fun new story.
All in all it is a very solid collection and it begins and ends marvelously and makes me weep for this good old book which DC no longer publishes. *sighs* Now if they'd just replace it with a series like this that could feature any DC character I would be very happy.