On Oct. 22, 1811, Franz Liszt was born in the Hungarian (now Austrian) village of Raiding. His bicentenary follows hard on the heels of Chopin’s, last year, and anticipates Wagner’s and Verdi’s, in 2013. But whereas no one really doubts the greatness of Wagner or Verdi, and Chopin seems universally beloved, things are not so straightforward with Liszt. He was, to be sure, an unrivaled performer (“A god for pianists” in Berlioz’s words), a man of unusually catholic artistic interests and the 19th century’s nearest approach to a Hollywood superstar. But although he is surely significant enough to celebrate, the...