According to Reis, the new band is not actually called Speedo and is still a mystery! Everything is explained on the Swami forums: http://swamirecords.com/phpBB2/viewtopic.php?t=2223

(scroll halfway down the really long first post!)

Also:

last Rocket From The Crypt show CD/DVD release is early 2008!
Swami released All Systems Go Vol:3 RFTC double disc set!
Hot Snakes live DVD/CD!

YEAH!

(I'm the only one excited about this, aren't I?)