That sure is a fantastic collection that I have no use for. All of those games are worth playing for sure.
LA Noire is probably the weakest of the bunch, but the story and the excellent atmosphere the game make it worth a playthrough, even if the gameplay isn't great. There's nothing quite like it in gaming.
Red Dead is definitely in the Top 3 games of this generation. No need to repeat here how fantastic that game is.
The inclusions of Episodes is a wise move because GTA4 sold over 20 million but the Episodes didn't get played by anywhere near the same amount of people.
Midnight Club is surprisingly good for what you might expect. While it is an arcade racer at heart, it has handling that requires skill and finesse, a large amount of customization in the vehicles, and it also offers up a stiff challenge. It's densely packed with content too, especially with the South Central expansion included. Over 40 hours of racing easily.
Unless you already have several of the games in this collection, you're mad if you think what is included isn't worth $60.