So, I picked this up the other day. Basically, Meet The Bad Guys is a 4-issue mini series (now in trade paperback) in which four of the heroes (Green Lama, the Fightin' Yank, Samson, and the Scarab) face off against new villains.
It's well written, and the art is gorgeous, but is it worth it? Well, as a stand-alone piece, no. It's more to set up future stories in the Project Superpowers line than an actual story in and of itself. Hero meets bad guy, bad guy gets dealt with without being actually beaten. That's pretty much the formula for all 4 stories included in this collection. It does flesh out some of the characters who aren't likely to get there own ongoing or mini-series anytime soon (plus, the book ends with some retellings of the origins of each of the 4 heroes), but it's really only good if read as part of the ongoing PS story. If that's the case, then by all means, pick it up. If you haven't read any of Project Superpowers yet, then this isn't the place to start.