Ahh, I've heard this. This was available to listen to on I believe OnlineAthens after When The Light Is Mine came out I believe. I like how the bass has hints of 'Shaking Through' in it.
My favorite of their unreleased, if not my favorite of all their songs. What's your source? The actual dialogue after the song is Michael asks, "Bill, how come you didn't sing?" Don (or Mitch) says "That was great!" and Mike says, "Yeah, we don't have a drummer anymore." The dialogue here sounds like what's before "All the Right Friends" on the Dead Letter Office/Chronic Town re-issue.
This should if been on murmer, I think it's better then most if the tracks on there!! It's funny what most people think what's good and what's bad!! I'm glad I'm not one of them!!