Personally i dont find this all that good, the playing is quite sloppy at times and he needs to dial down the reverb and delay a little, plus justin chancellor has been doing this type of thing in tool for ever.
You should check out a pro Les Claypool, he does the music for South Park and his band was (is) called Primus. Les does nothing but base and nothing but fuck-with-your-head lyrics and rhythms. All I can see is see what you think... http://www.youtube.com/watch?v=953PkxFNiko