I first heard this song on NPR's "All Songs Considered" holiday mix last year, a few weeks before Distortion came out. I had it slated for inclusion on my 2008 mix right after I heard it, and it sort of set the theme for the songs that followed.
One year later, I think it's one of the two or three good songs on the album. Just like Ichiro, Stephin Merritt has a batting average of about .333, so one song out of every three is really good. This means that 69 Love Songs had 23 good songs, but the last two albums have only had three each. The solution is to for him put more songs on each record!
Magnetic Fields - Mr. Mistletoe
(mp3 from some blog)