Just listened to his most recent interview.
Billy has a new plan guys, a new approach! He's unlocked the secrets of the music industry. In order to navigate this maze and reach artistic and commercial success you must:
A) Dress up as a kite and post the pictures on your website
B) Give constant updates on your album progress in the form of incomprehensible gibberish.
C) In addition to promoting wrestling and a tea house, be sure to write a full length novel about your spirituality.
As for the music itself he said the plan is to make shorter albums (10 tracks give or take) and to release them every nine months or so. Basically the Zeppelin/Stones/Beatles approach.
I don't remember where I read it but it sounds like he's abandoned the Teargarden concept, which somewhere along the way became a "cycle" about Chicago.