The key to catching the time signature is to break it into blocks of 8 beats instead of four and follow the organ that lilts up and down in the background. That instrument keeps its beat without accents for stretches, faintly behind the beat; once you've got that followed then the other instruments fall more readily into place. It does work out as 4|4, though I'd rather call it 8|8 if there is such a thing.
thanks, gaz! that does make sense. but, unfort, there's no such thing as 8/8. i don't know why. there's 6/8, and 7/8, but 8/8 would be, like, one.