Good points Void....I really agree with much of what you said.
He has put out a lot of albums that I was disappointed in also....he got very "streaky" after his amazing start.
Self Portrait is a great example - that is such a weak effort, especially coming off of what might be my favorite album, Nashville Skyline.
(I hate to say I have a favorite since everything before Self Portrait is totally brilliant IMO)
He really blew his rep in the late 70's and 1980's I thought by "mailing it in" on more than a few albums. Even those albums have some treats though, just due to the immense talent he has. Some of the albums are like, "Cmon Bob, you are SO much better than that" - I have the same feeling toward Lennon, some of the albums were pretty spotty considering the brilliance you know they were capable of.
One thing that I am grateful for is the last 4 albums - they have been a breath of fresh air to me. (Excluding the Christmas album )
Time out of Mind and Love and Theft can stand up there with some of his greatest works....the songs are just fantastic.
The producer, Jack Frost really did a great job - of course JF is Dylan - I think he really found his latter day sound by working with Lanois (as you mentioned Oh Mercy)
"Cold Irons Bound", "Make You Feel My Love", "Mississippi", "Honest With Me" - those are just great tunes.
I'm just glad he is bookending his career with some top notch music.
Great Stuff! I love discussing music.....