As with most people, I bought this album after enjoying their sophomore release ("Underachievers Please Try Harder") tremendously, and found this to be at least as good, and in some ways, better.
This album is a lot less pretentious, a bit more tuneful, and lacks the filler of "Underachievers..." For all those who cry wolf at any similarites between this band and Belle & Sebastian, sit and spin. I think B&S would sell their souls to make anything this vital again.
"Eighties Fan" is a nice homage to The Jesus And Mary Chain, with it's "Just Like Honey" drum intro, while "Happy New Year" kicks the album off like no other pop song could (or has, in recent memory). My personal fave has to be "Pen And Notebook", with brilliantly simplistic lyrics, and a pristine, very spare production that can't be touched.