Jesus Christ, Part V is the most glorious and epic thing they've ever done. So much more subtle and interesting lyrically, than anything from The Island or The Hazards of Love. And musically, it just soars.
eet: i've always described this song to those who are unfamiliar with it as the island, but way longer and a whole lot more amazing. i think this may be my favorite decemberists song. and that's saying a lot.