It appears the ELO Playlist CD is already out.
Indeed, this is a re-packaged Essential Electric Light Orchestra collection from 2003. The one difference, there's an enhanced section on the CD that leads you to additional photos (including one of the newer shots of Jeff used in the Yamaha magazine article about him), credits and most notibly, 2 new wallpapers. I had a hell of time trying to access the wallpaper, but here are direct links to them:
By the way, if you think the Essential madness is over, Michael Jackson, Billy Joel, Bruce Springsteen, Judas Preist, Journey and several others are getting Essential 3.0 releases. They contain a third music CD of more hits and fan favorites. Funny.
Two other observations: 1) There are no post-1974 group photos in the enhanced section... and 2) There's an ELO Part II CD in the discography.