Footage of Mac McCaughan covering "Neighborhood #4 (7 Kettles)" has made it's way to youtube. He's ofcourse a founding member of Superchunk and to that co-founder of Merge Records, Arcade Fire's record label, together with Laura Ballance who's sitting next to him.
Pretty good acoustic cover. This song was part of their session at Quail Ridge Books & Music in Raleigh, NC in support of "Our Noise: The Story of Merge Records" which you can read more about here. Their book actually tells among lots of other things some behind-the-scenes stories about Arcade Fire. The purchase genes immediately starts twitching... Might be worth buying.