Jono Bacon has been working on a project of his own called "Severed Fifth" whose purpose (as quoted verbatim):-
Severed Fifth is a music project designed to explore how far a musician can take his music with the new economics of the music industry.
The website is here. And you can download the album in both OGG and MP3 format, I believe that FLAC is coming soon.

Personally, I am no great rock fan, but Jono Bacon's music was(In my opinion) pretty good. I especially love:-
Kickback
Edge of Design
War
although my only criticism is about the drums which could have used a little bit more work.

What do you think?

By the way, this announcement is quite old, however I haven't seen any other one here yet. So if there's another thread like this here, my apologies.