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The Depreciation Guild's synth-swathed dream pop blends reverb-drenched sensibilities (the Field Mice and the Jesus and Mary Chain offer good reference points here) with a touch of chiptunes-style instrumentation (i.e., a modified 8-bit Nintendo Entertainment System). Frontman Kurt Feldman (who would later go on to be a part of the Pains of Being Pure at Heart) teamed up with twin brothers Christoph (who would also be a core member of the Pains) and Anton Hochheim to form the Depreciation Guild in 2005. The group's first release, Nautilus, was put out on 8 Bit Peoples in 2006. The band self-released its debut full-length, In Her Gentle Jaws, the following year; the release generated a good deal of buzz among indie pop fans, in part because the whole album was made available for free download on the band's website. The next two years were relatively quiet for the Depreciation Guild, release-wise. In the meantime, Feldman and Christoph busied themselves with the Pains, who at that point ...