The Hype: Just two days after inducting Leonard Cohen into the Rock and Roll Hall of Fame, Lou Reed was rumored to be performing at an exclusive, guest-list-only, MOG-sponsored party at a swank bar called Pangaea on Wednesday afternoon. The room was buzzing with anticipation as everyone kept their eyes peeled for the diminutive punk godfather. The organizer said he tried to get Perry Farrell (ex-Jane’s Addiction) and once again Rage Against the Machine guitarist Tom Morello to join Reed for the show, but couldn’t fly them in on time.

The show: As the second-to-last band set up, photographers crowded to the front of the stage to get what was promising to be a rare, very close-up view of Reed performing in front of just a few hundred hipsters. While they waited, they were treated to a set by hometown “hyperdrone” rockers the Black Angels (whose, name, by the way, was inspired by a song from Reed’s first band, the Velvet Underground).

Just a quick aside here on the Angels and the seemingly endless supply of psychedelic head-tripping bands in this town: I’m not sure what it is about Austin, but this town loves the sound of a thousand bees attacking a guitar while a drummer tries to swat them away with broken tree branches. That being said, the Angels’ thrummy, Doors-like cascade of psychedelic sound fit nicely in the chill-out vibe of the dimly lit, crushed-velvet-couch-strewn club.

The Verdict: Well, Lou was there. Sitting not 10 feet from where I was anchored to get my money shot of him onstage. And … that’s where he stayed — chatting up some VIPs, but apparently not ready to rock out at the show thrown in honor of a documentary by Julian Schnabel of Reed’s 2006 performances of his 1973 Berlin concept album. Between the grim vibe given off by the Angels and the alabaster tans and expressionless buzz of the Danish band the Raveonettes — and given Reed’s rambling, incoherent induction speech for Cohen — maybe it’s just as well that he watched as his dark spawn paid him homage.

Keep checking in with You R Here for more South by Southwest coverage throughout the festival, plus there’s plenty more over on our sister blog, MTV News’ Newsroom.

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