He received the Governor's Award for the Arts in Montana and the 1990 National Endowment for the Arts' National Heritage Award. He was nominated by President Bill Clinton to serve on the National Council of the Arts. The Missoulian has listed Wally as #42 in the Most Influential Montanans of the Century.
The American journalist Charles Kuralt discusses McRae's efforts to preserve the land and the cowboy way of life in the small community in his book, Charles Kuralt's America. The poem Things of Intrinsic Worth appears in this interview.
- Stick Horses and Other Stories of Ranch Life
- Cowboy Curmudgeon and Other Poems
- Up North is Down the Crick: Poems
- It's Just Grass & Water: Poems
- Things of Intrinsic Worth: Poems
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