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Come 3.0, I've actually felt they were "going somewhere" positive ever since seeing Gorge '09. They just started from a base where IT was almost entirely absent, and because of their other commitments progress hasn't been as fast as it was back in 1.0. In general the 2009-2011 era was hindered by a lot of residual chemistry and distance issues from the breakup. It took a while for them to really deeply connect to each other again. I'd still argue the era has a distinct feel, heavy focus on classic rock, lots of floaty and plinko jams. Not nearly the progression from year to year in 1.0 but still something.
BGCA '12 III was the first show I saw where I felt like things were fully back in place. No surprise that Dick's shortly followed. Come 2013 they started producing a number of highlight shows and one of their best albums in a while, and put together probably their best tour of 3.0 in fall 2013.
In 2014 they picked up nearly where they left off; however, I've felt that it's taken them a little while to digest Fuego, which has led to some setlist awkwardness. Trey seems to be working through some stuff as well. He's been a bit choked off at times (producing complaints about his tone, whaling, etc.). Well, better to put it out there and work through it than try to force it down. The way he puts himself into his performances is what makes him stand out from other jam guitarists with exceptional technical skills.
I'm curious to see what's next. There is a sense of continued momentum, but given that they play ~40 shows a year now there is always going to be rust to knock off. And I think they are more crowd dependent than ever in 3.0. They've really abandoned large areas of the country, pretty much all of the red states other than the coastal south.