Opening to this Mike's Song is as standard as they come. Trey lets loose a digital delay loop. Trey's playing in the tramps segment is entirely in the lower octaves for the first couple of minutes, and is very repetitive.
Page is on keys.
Mike and Fish maintain a strong bottom. But there's still no central theme or point. This jam doesn't do anything for me, though it is more musically interesting and complex than the vast majority of early 1990's versions, of course. Mike also starts playing Hydrogen early. Page plays some bizarre chords.