The quantitative understanding of rheological experiments on compatibilized binary polymer blends requires the consideration of viscoelastic interfacial properties. The Palierne model offers these capabilities but a systematic analysis has not been performed yet. Starting from the Palierne model containing a Maxwell ansatz for complex interfacial shear or dilatational moduli and which considers a particle-size distribution function, we find that this model combines parameter and material functions in an ambiguous way. Consequently, a simplified version of the model-frequency-independent interfacial moduli and monomodal particle-size distribution-was introduced. Formulas have been derived for the relaxation times, the form relaxation time, and one additional still longer time which is associated with viscoelastic interfacial properties. We have found a good agreement between the predictions of the model and experimental data as well as the characteristic times in the relaxation time spectrum and the derived time constants for a PS/PMMA blend compatibilized with different amounts of a corresponding symmetric block copolymer. These results reveal that from the rheological point of view, the interface is of almost elastic nature, either shear or dilatational.