Although Times blogger Todd Martens did a nice job on Extended Play this morning doling out the run down on yesterday’s spectacular Lou Reed tribute at the Levi’s/Fader Fort here at SXSW, I couldn’t resist throwing in my two cents.

Even though there are 1500 bands that will come through Austin for SXSW, yesterday’s event was the hottest ticket in town and lines stretched for blocks. Part of the reason was the Fader Fort is one of the coolest venues to watch shows this week. The scene is hip, the performers are almost all top quality, there’s decent music in between sets, lots of rooms to explore inside the fort and the booze is free.

Add to that the promise of bands like Yo La Tengo, My Morning Jacket, Joseph Arthur and Moby covering some of the works of Lou Reed, and you will have yourself a hot show. Strangely, because many of the artists chose to cover some of the more mellow tunes from Reed’s days with the Velvet Underground, the mellow pace was anything but hot.

Until Thurston Moore plugged in with Sonic Youth drummer Steve Shelley behind him and the rest of the New Wave Bandits.

>> Video: Lou Reed and Moby Live from SXSW

The audience at the Fader Fort had sat through hours of quality bands doing respectable but somber covers from Reed’s deep catalog. But meanwhile, outside of the plush, comfortable tent, hundreds of bands were sounding their barbaric yawps through the streets of Austin. The kids needed a kick in the mouth and indie legend Moore gave ‘em just that when he ripped through “I’m Not A Young Man Anymore,” abusing his axe and leaping from the stage with his guitar. Moore emerged moments later sans guitar but with just as much mojo. He grabbed the mic stand and screamed the lyrics at the equally pumped crowd who appreciated the power boost.

When Moby appeared he knew he couldn’t top that energy so he wisely switched gears and played guitar as singer Laura Dawn led the way through a beautiful version of “Femme Fatale” which would have given even Nico the chills, what with Dawn’s eerie manner of hitting all the notes just as (intentionally) flat as the former Velvet Underground singer.

To cap an already wonderful evening, Lou Reed himself took to the stage, strapped on a guitar and eased into the classic “Walk on the Wild Side.” Moby, Dawn and the rest of Moby’s background singers accompanied Lou during a number that was so sweet that it made more than a few audience members mist up a bit, including this reporter.

Lou was generous enough to give Moby a few lines to sing, to which the bald DJ improvised a tad to the smiles of many in the crowd.

Whereas Moore brought the raw power of punk, Reed delivered the subtleties and grace. It was a sight to behold.

When the number was over, Lou raised his fists and proclaimed himself the first punk rocker, and who were we to disagree after that?

–post, videos and photos by Tony Pierce