The 27th annual induction ceremonies for the Rock and Roll Hall of Fame are not too far around the corner, and as we wait with anticipation to find out who will be on the final list of inductees, new collections from Time-Life Music will help us all remember some of the numerous highlights from the past Rock Hall induction galas.

They’ll reach into the archives and offer up a three CD collection of highlights titled ‘The Best Of The Rock And Roll Hall Of Fame & Museum Live,’ which will be released on Nov. 1. Fans of ‘The Boss’ will be very happy with this release, as Bruce Springsteen lands a total of six tracks on the collection, including his jam with U2 on ‘I Still Haven’t Found What I’m Looking For.’

The CDs are just the tip of the iceberg. Time-Life will also release 10 volumes of Rock Hall live performances on Nov. 15 as a digital-only release available at iTunes, offering nearly 200 performances recorded between 1986 and 2009. (We suddenly have an idea as far as what we might be listening to soon here in the Ultimate Classic Rock offices.)

Time-Life and the Rock Hall partnered previously on a similar DVD set released in 2009 that featured 125 performances, so it appears that the new digital download will add quite a few previously unreleased tracks to that original slate for all to enjoy.

The highlights are numerous and quite frankly, if these new releases are anything like the previous DVDs, the wealth of material can be a bit overwhelming to absorb – you’ll have plenty to listen to.

But unquestionably, it’s nice to finally get an official audio release of Tom Petty, Jeff Lynne, Steve Winwood and Dhani Harrison performing ‘While My Guitar Gently Weeps.’ Taking that performance to the next level, of course, was Prince, who stepped into the moment and burned out a guitar solo that was rock and roll water cooler talk for days after the performance.

Guns N’ Roses and the Red Hot Chili Peppers lead the list of this year’s nominees for the 2012 ceremonies, which will happen on April 14 in Cleveland.