FWIW, I don't think it's that great at all. I played it on Interzone a few weeks back, and frankly think it's easily the most overhyped release of 2006 (that is, until a new Glass Hammer album comes out).
It's totally conrived, imo, as Jem Godfrey essentially went out and bought a bunch of Inside-Out type groups in order to draw inspiration from, since he want to make a "prog" album. I think that's okay, until all this hype comes out. Anyway, I found a great deal of the album not worth my while and it ranks at the bottom of the 50+ jazz and rock releases I've heard in 2006.
And frankly at this point, in 2006, we're getting to the point where the well has really run dry from the "third wave", imo.
It reminds me of the mid-late 90s when neo-prog (groups that were related to or sounded like groups like Marillion/IQ/Pendragon) was being rampantly produced, and a lot of 2nd rate and 3rd rate copycats were coming out. I suppose it's a natural cycle.
This next batch of groups (Radiohead, Muse, The Mars Volta, Pure Reason Revolution, Oceansize, etc) are at least making an attempt to "progify" rock in the 21st century.
(rant off
)