Reconstituted punk pioneers the Stooges have spent the past week recording their first album since 1973 with producer Steve Albini in Chicago.

Pop, drummer Scott Asheton and guitarist Ron Asheton are joined by bassist Mike Watt, who is subbing for Dave Alexander. Watt is chronicling the sessions in explicit detail on his Web site.

Among the tentatively titled tracks scheduled to appear, Watt describes "ATM" as "the most what I'd call 'riff-oriented' of all the tunes," and says Brendan Benson may add harmony vocals to "End of Christianity." "O Solo Mio" is said to be "the real ballad ... of the bunch, but way more driving than any kind of 'ballad.' "

"It's neat to see how they all three work," Watt writes. "The best I can do is help them let me help do what I can with the bass, follow their direction and keep my head together. Anything else is crazy. I like the way Iggy and Ron get everything they can for the tune right after me and Scotty record with them, so each tune can live in world that's pretty whole and unto its self."

Oh wow, this could be amazing.

While pondering how excellent a new Stooges album could potentially be, check out the contract rider for their current tour on The Smoking Gun. It may be the best contract rider ever...