Icculus has a nice blow-by-blow of the seven>ghost jam here. I wanted to add a couple points: To me, the repeated chord sequence at around 13 mins of "seven" sounds like a slowed-down version of "rock and roll". I think it's the same chord progression. I love the little seven-note melody that Trey finds in the section immediately following and really feel like it inspires/propels the jam to further heights. At around 17 mins Trey is playing around with a little arpeggio and sends it to a subtle loop which he then solos over beautifully, building up the the main crescendo. Just such a great and understated use of delay. In both Seven and Ghost, the jam flags at around the 10 minute mark, and Fish pulls it back together and drives it forward again, making Fish the night's MVP in my mind. But overall, the whole 50 minute sequence is sonic heaven, a exemplary run of collaborative, egoless, "one-mind" playing.

I hear the "cool it down" tease in Ghost, maybe 7 or 8 minutes in, following the breif restatement of the Seven Below theme (i think...going on memory here).

I was there and the whole second set blew my head off. The first hour of it was one of my 2 or 3 greatest concert experiences of all time. Great to be able to hear it again the next day...gotta love the interweb. I got an audience recording from bittorrent that sounds incredible, a testament to how perfectly tuned the sound was to the room by the time they got to set 2 night 2.