Okay, in my classic SPL pessimistic view, I read "I wrote almost an album’s worth of material for the band" and thought "that's not good". Didn't he leave 20 songs on the cutting room floor when he used to do albums? If that's the case, I hope he has a lot more than 1 album's worth of songs.
Then I thought "don't be greedy, this means new music and a new tour!". All is well.