Being a Krause fan, an even bigger T-Bone Burnett fan (since the Alpha Band days), and a burned-out Zep fan, I do like this album. The Plant/Krause combo came off better than I expected.  
Great choice from a marketing standpoint, appealing to both alt-country and classic rock fans.  Sounds to me like Krause was on cruise control most of the time, having only to harmonize along with Plant's limited vocal range.  I wouldn't call it a waste of her talent, but she's certainly capable of much more.
Russ