I don't actually think they're that fey, but this seems to be the thread where they are being discussed... Just got the latest Hot Chip album, having heard about their stuff and thought it sounded great, but would probably be poorly executed, and actually I'm finding "The Warning" to be an Apollonian delight. They're almost like a post house/2step Beach Boys, or as the man Woebot said reminiscent of mid period Beta Band - a great lost band, lost between an indie scene losing any sense of adventure and an experimental/the wire scene fetishising obscurity for its own sake. I really hope the same fate doesn't happen to Hot Chip, who remind me of The Beta Band largely cos of their ability to write happy sounding modern songs with an awareness of black music, whilst containing delightfully incongruous, frequently miserabilist lyrical content. Why wasn't "boys from school" a massive hit??? Its surely as melodic as any Coldplay song for Christ's sake, has both delectable harmonies and jacking house beats and synth-funk guitars...
On the matter of their fey-ness, I must say that I find them considerably less so than Junior Boys (at least the JBs first album, I've not heard the second yet). They do sound very geeky vocally, but that's not really a problem when its well executed. Also the 2steppery of a good half the tracks is pretty thrillingly convincing, far more so than that on the JBs first. I also feel they are "along the right track" as far as indie groups go, as having read an interview with them they said they were enjoying Gang Gang Dance and Battles, two other technologically assisted indie-ish groups who are defying the overriding drift towards general U2/Bunnymen worship that appears to have swept through NME approved Rock like a fleet of locusts, stripping the land bare of imagination and perversity.