if i had to make that sort of distinction, i'd say it's more a leaning toward the newman-esque covers. don't let that discourage you if you're not into that stuff, though; nilsson definitely mixes in a few different musical styles on the point, and if one strikes you as maybe a little juvenile, others are almost surprisingly adult. the conceit of the album is that it's a kids' story, told by harry nilsson, with tons of great nilsson music. i've been listening to it since i was twelve, and in the ten years since, i've never outgrown it.
totally worth picking up.