The stories were written for the book, they are not too bad but I feel like there is too little steampunkiness in the book. Sure, mixed worlds are nice, like modern and a bit of steampunk, but there were too much of it for my liking. The settings in different places was a nice thing. There weren't only novels but short comic stories as well.
The best stories in the book by my opinion: "Peace in Our Time" by Garth Nix, "The Oracle Engine" by M.T. Anderson and "Hand in Glove". I don't want to say much about stories behind them, for spoilers, but they are revolving around adults. The second story is set in the ancient Rome. The story of "Hand in Glove" is a crime story, the beginning of the modern-type detective work. Out of the three I think I liked "The Oracle Enginge" the best. The other stories weren't that bad.
Comics - I enjoyed "Finishing school" the most, which is set in 19th century Australia.
The stories are very straight, if the main heroes (usually girls) are involved in romance, it's always hetero. The stories are written usually by the people from USA, some from Canada, Australia and New Zealand. Nothing really interesting in that. Nothing by European, Asian, African or Middle/South Americans. Delia Sherman born in Tokyo doesn't count. The choice of authors, quite boring. Not to mention that the editor put her own story in the book also. It wasn't a bad story, still it's not a good idea, especially if the other editor is your husband.