Excellent article about Michelle Shocked at CNN.com.
Yes, Shocked has control of her music at long last (hooray!) and is re-releasing her old albums with all sorts of extras.
Texas Campfire Takes and Short Sharp Shocked are now available and are highly recommended (follow the links to read more about 'em and/or to order them from amazon.com).
I'm also very fond of her most recent album Deep Natural and highly recommend seeing her live in concert.