I LOVE the first album, like the second (not a huge fan of Soto's singing, to be honest). I REALLY like the Concerto. I saw him recently in a small theater, 500 people, and... it was quintessential Malmsteen. Which is to say, when the guy plays, and plays sincerely, it's amazing. Unbelievable. It just borders on cheese too often for me. When I saw him, he was playing like it was Wembley Stadium, kicking picks to the crowd (I was front row, and I left with easily 10 picks and we made sure that everyone around us got at least one). He had 54 - I counted them - Marshall heads (of which I think four were lit) and 14 stacks of monitors along the back. He had 90% of the stage to himself; the drummer, bass player and keyboard player/singer were all stage right, crammed into a line along the side of the stage. The keyboard/singer was a dork; he seemingly appeared ready to fellate Yngwie at any moment, and that seemed odd from a bandmate.
But it's undeniable that he is a talented guitar player. It just depends if you like that style and format.