I think this sounds almost exactly the same as the Bright Eyes version. Same vocalist, guitarist, organist, at least... who was in the Bright Eyes live band in 2007? Jason Boesel and I think Nik Freitas have played with Bright Eyes before, so it may be the same personnel.
Its funny, this was originally performed by Bright Eyes (amazingly might i add) yet I always thought it would have been even more amazing if Desarecidos had played/recorded it... yet then Mystic Valley Band records it. hehe... but the song still kicks ass nevertheless.