"New Adventures In Hi-Fi" is one of my favorite REM albums, actually. And most of the IRS albums, of course.
Millsey seems to be a nice guy. I spoke to him briefly at SXSW in 2008 and follow him on Twitter. Also seen him quite a bit since REM broke up, in the Baseball Project, other appearances with Steve Wynn and Big Star tributes.
Regarding the Hot Rats box, I was really excited at first and then became skeptical when I saw the track listing full of alt-takes and so forth. But, having second thoughts (again) after reading this piece in the Guardian today.
'He was a musical warlock': reflecting on Frank Zappa's greatest album at 50