Life in the Fat Lane is a better compilation than Physical Fatness yet not as good as Survival of the Fattest. It also features the first blatant pop-punk on a Fat Wreck Chords compilation ("San Dimas High School Football Rules" by The Ataris). In many ways, pop punk has been the death of "real" punk. I struggled for years with the fact that I love both the "real" and pop varieties of punk. It's something akin to being a whaler who always has a moment for greenpeace.
Anyway, despite marking a slight shift in the Fat Wreck Chords catalogue, Life in the Fat lane is as good as you could expect a punk comp to be. There are some real hits, some near misses, and only a couple songs that aren't worth the trouble.