the band actually derive their name from originally being dylan's backing band. shows were billed as "bob dylan and the band". the band formerly known as "the hawks" went on using simply this as their moniker. this is why this is a unique case and the "and" is appropriate.
Whatever differences people claim exists between the ampersand and "and" are irrelevant since most/many artists use them interchangeably, i.e. Nick Cave &/and The Bad Seeds, Bob Dylan &/and The Band. If you go by the text on the original album covers, The Basement Tapes should be attributed to "Bob Dylan & The Band," Before the Flood to "Bob Dylan/The Band" and The Complete Basement Tapes (Bootleg Series Vol. 11) to "Bob Dylan and The Band." Last.fm made all of these non-issues into issues when they introduced the "auto-correct" feature, which led to us having separate pages for ampersand/and, among other problems.
Ampersand (&) usually denotes a collaboration between two separate artists (for example: [artist]Van Morrison & The Chieftains[/artist]), while "and" means they are a stable single unit (for example: [artist]Tom Petty and The Heartbreakers[/artist]). There are exceptions and debatable cases, but as a general rule this helps keep tags more consistent and less confusing.
Someone at Columbia made a mistake on the Complete cover (they're not known for great attention to detail), but it's still incorrect. [artist]Bob Dylan[/artist] and [artist]The Band[/artist] are two separate artists who collaborated with each other without creating a single entity called "Bob Dylan and The Band". Last.fm will redirect both spellings to the same page unless you have autocorrect turned off in your settings, which I do.
[url=http://www.last.fm/music/+noredirect/Bob+Dylan+&+The+Band]Bob Dylan & The Band[/url] is the correct artist tag for The Basement Tapes. See the original [url=http://i1087.photobucket.com/albums/j474/gatofiesta/tapes_zpsrfbsoiff.jpg]1975 Columbia LP[/url], [url=https://musicbrainz.org/release/3eaf71ed-853f-4f68-9623-b6f0a64ecf40]Musicbrainz[/url] or [url=https://itunes.apple.com/us/album/the-basement-tapes/id309065794]iTunes[/url].
http://feedback.legacyrecordings.com/forums/6333-reissue-requests/suggestions/599683-legacy-editions-of-dylan-s-nashville-skyline-and-n?ref=title Vote for a Legacy Edition of Nashville Skyline and New Morning!