I've read the second book you mention and part of the last book in that series. Distinctly so-so I'd say. They have moments of brilliance but I feel if you start of reading Moorcock you eventually tend to outgrow him, my moment for that came when I read his whole, 'Epic Pooh,' essay about Tolkien. I'd say Lord Dunsany who is sadly not read much any more is a far superior writer from an earlier time.
I am very fond of Lord Dunsany and have from time to time been able to get old copies of some of his lesser known works cheaply via Ebay or used bookshops. He was, I think, a master of choosing particular though unusual or unexpected words that gave a shade of meaning or a different way of looking or understanding something. Some of his "short stories" are only a paragraph or two but powerful or beautiful or both.
I think Lord Dunsany displayed a simple love of language, the understanding that writing should be beautiful and not just exist to convey a sequence of ideas, something I think is lacking in many modern fantasy writers.
I also think that, before even Dunsany, everyone should read Paradise Lost