All good! I'm a new user of Mudcat so I thought that this sort of knowing question might be a good way to work out how broad the appetites of members are!

I agree that psych-folk has become acceptable shorthand for 'skewed pastoralism' in (mainly) transatlantic musics; it's a textural or atmospheric descriptor, and rarely connotes a direct link to 'folk traditions' in the way that many might still like to see the term 'folk' confined to.

John Barleycorn reborn is a good shout in terms of new(ish) British exponents, and re-establishes the connection with the Current 93 axis too. These are all great companion compilations that showcase the (mainly) US side of things:

http://boomkat.com/cds/20477-various-digitalis-gold-leaf-branches
http://pitchfork.com/reviews/albums/549-golden-apples-of-the-sun-compilation/
http://therealnittygritty.blogspot.com/2009/01/various-by-fruits-you-shall-know-roots.html

The latter gave us the name for the first instalment of a (hopefully!) annual bash that we've organised at Cecil Sharp House on 30th Oct:

http://www.milesofsmiles.co.uk/