So many things one could say about this band! For starters; their name! What the fuck is "Psychedelic Horsehit?" I personally enjoy it but everyone seems to really hate their name. Anyway, this band is completely underrated in terms of jump starting the entire "shitgaze" movement. "What is shitgaze" you might ask. Well, shitgaze was coined as a joke at first to describe the sonically abrasive manner in which this band played - to further explain it's a reference to the "shoegaze" genre of music and the fact that, because they pushed the amps to their limits, it sounded like "shit". To those with sophisticated ears, you can very easily hear the pop aesthetic buried under the awesome layer of fuzz. Those that can't/won't are missing out.
One good reason to follow this band is the drama the lead singer is always providing with various feuds with other bands such as Wavves and TV on the Radio. Here's a funny interview showcasing as such.
Anyway, check out this awesome album if you're into lo-fi rock/pop or, and I might be stretching this, shoegaze.