So does anyone here think that "The Magic Ring" is a great story?
Haven't read it, though now that this new edition is out I probably will, once I track down a copy.
If you want a quick fix on whether or not you're likely to
find it worth reading, an easy way to do so is to check out the same author's most famous work, UNDINE, conveniently reprinted in Doug Anderson's TALES BEFORE NARNIA.* If you skim UNDINE (which shd also be available from any number of university libraries or possibly through interlibrary loan from your public library) and like it, you might want to follow up on THE MAGIC RING. If his masterpiece leaves you cold, you ought not to feel any compunction to read on (though I allow most authors the three-book rule, myself).
*Doug notes that it's a work which CSL liked well enough to hunt down and read in the original German.