No it isn't. I don't think the production values or the song writing is up to the same standard. I think Peggy Suicide is a stone cold classic album, and nothing I've heard on Psychedelic Revolution hits the heights of say, SafeSurfer.
Mind you, what would be the point of doing another Peggy Suicide? It's been 22 years since that album was released. Inevitably, Cope has moved on. This is more rustic. It feels like quite a natural progression from Black Sheep, particularly the first disk. It does retain the same political stance you'd find in songs from Peggy Suicide like Soldier Blue.