I did some poking around and found that it is titled "Fiction" (yes, B&S put a song with the same title on their soundtrack) by Nathan Larson, and it will come out on a film music compilation album of his titled FILMWERK , to be realeased Februaray or March on Commotion/ Koch records. All of this, by the way, I found out at www.nathanlarson.com .
I, too, apparently like many, loved that opening theme with the pulsating moog and picked up B&S's soundtrack to find not that, but several other good songs. I actually live in a closet and had not heard of Belle and Sebastian until then, and now count myself among their countless fans. Despite the happy ending to this disappointment, I have often wondered about that mysterious, transfixing song, and craved to have it for the soundtrack of my life. It seems that soon all things will come together.
Larson's wife, it bears mentioning, is the glamorous Nina Persson of the Cardigans, and she did the vocals on the theme from Storytelling (she also gets a co-songwriting credit on this site, though, I believe, not on the actual film credits).
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