How is "O Valencia!" like the Decemberists? Let us count the ways:
(1) It uses a centuries-old story structure.
(2) It tells a tale of two ill-fated lovers.
(3) It's darn catchy.
(4) It sounds like modern indie pop, but, with Meloy's distinctive voice and lyrics, it won't be mistaken for the work of any other band.
(5) As Chris Funk admitted, "Every one of our records has an R.E.M. moment. Like on The Crane Wife, we had 'O Valencia,' and that guitar line that I put on there is 'Seven Chinese Brothers.'" (Source)