Not too long ago I made my way through Delany's "Neveryon" series. I found it fascinating. On the surface, it seems to be sword and sorcery of a familiar kind. However, it's really about signs and symbols ("A Child's Garden of Semiotics" the author calls it, in one of his afterwords) and is not at all like typical fantasy. Although it is clearly a "literary/intellectual" work, and is at times almost outrageously "post-modern" (the last story in the cycle is identical to the first story in the cycle, for example), I never found it "difficult" or dull.
I might also suggest taking a look at the novel version of "They Fly at Ciron," written many years after the shorter version. It is much more of a "traditional" story, if you will, but unusually well-written and well-characterized.
It's interesting to note that, outside of SF/F fandom, Delany is probably mostly known as a writer of literature of gay interest. I recently purchased his long novel The Mad Man, which would fall into this category of literature. It will be interesting to see what it's like to read him outside of the SF/F genres.
I think the only SF/F novel by Delany I have not read is Stars in My Pocket Like Grains of Sand. I'll have to track down a copy sometime.
