TALKING HEADS “Popular Favorites 1976-92: Sand in the Vaseline”, <i> Sire</i> * * * *

Though U2 is probably the most popular group to come out of the new wave of the late ‘70s and early ‘80s, it would be hard to argue against Talking Heads as the most pervasively influential band of its generation. Early on, the foursome was the apotheosis of the nerdy-as-cool, art-school set, all nervous tics, excitable neurosis and bop-till-you-drop minimalist propulsion. Later, their brave move into big-band polyrhythm--against which David Byrne set Burroughs-esque, cut-up lyrics--set the standard for the sweeping acceptance of world beat music.

So it’s a surprise that this retrospective--said to be the group’s swan song--hasn’t yet gotten much attention. Maybe it’s because it’s a modest double-disc set in the year when even Donovan gets a compleat box. And the set’s skew toward the “popular favorites” promised in the title may not seem lure enough to fans burned out on “Burning Down the House.”

But even if there aren’t as many rarities as you might wish, the unreleased bookends--two ’75 demos at the beginning, three newly completed tracks at the end--are indispensable for followers. Two separate booklets, one with essays by all four members and the other with song-by-song notations, establish the macro and the micro of the long ride. As for this being the last stop: Say it ain’t so, Dave.