Especially for urth and any other Kinks fans: Just heard Scelsa play this on his pre-Xmas show, hadn't heard it in decades. From a long-forgotten 1977 LP called Kansas City Slickers by a band called The Leopards, this is "Dancing In the Snow" -- their lead singer does one helluva Ray Davies imitation...
http://www.youtube.com/watch?v=0K8LN5Qn6oo
Finally got a minute to check that out--you're dead on with the Kinks/Davies comparison. Someone was *way* into the Village Green/Arthur period. But they really shoulda invested in a metronome--seemed to me like the tempo kept getting faster and faster as the song progressed.
Btw, loved the choreographed routine of the two Chicago news anchors--wonder how long it took them to work that out? Almost seemed like they do that bit regularly. Very very silly.