It's my favorite song on the album. Reminds me of glider era MBV where they were experimenting more with dance rhythms. The drums have a very early 90's madchester/primal scream vibe to them.
Funny you mention Air, because I always thought their female vocalist always sounded like Belinda Butcher. I remember the first time I heard Surfing on Rocket and was convinced it was Belinda.
New You has grown on me but it's still low on my list. It sounds almost like radio rock and it's just too happy for me. On the other hand, In another way and Wonder 2 blow my mind. I love the whole album though. I think its better than anybody really could have expected.
I forget where I read it, but someone mentioned that Loveless really sounds like its cover and m b v does too. I agree with that.