The album was significantly different from the group's 1960s work. While the arrangements were still grandiose and often utilised an orchestra, the general musical styles were Country and Pop music. The album was also their first not to include original compositions by either Scott Walker or John Walker. John Walker's only new song "Remember Me" was included as the B-side to "No Regrets". The group's following album Lines did include a lone John Walker composition under a pseudonym, Scott however, would not contribute new songs until 1978's Nite Flights.
No Regrets received mixed reviews from the majority of critics. Dave Thompson writing retrospectively for Allmusic praised the title track calling it "brilliant" and "a gargantuan slab of maudlin sadness that wrung every last iota of pain from Scott's voice". Thompson criticised the rest of the album saying it "stunk", but did praise "He'll Break Your Heart" and "Burn Our Bridges".