I spoke to Joe at the TBS TAYF10 shows in Norfolk, VA and DC and he'd mentioned that they were ready to do this with I think 14 or 16 songs (don't quote me on the exact number). He also said that he has a side project working on things as well. It seems to be a great time for Transit fans!
It's so great to be a transit fan. They are so hard working. Since listen and forgive, we've gotten that, the skipping stone EP, the misser album from Tim, and we're going to get a new long lost album from joe before this comes out. So great.