Let's be perfectly clear here: 07/01 is nine years old and was recorded while Metz was in high school, but this marks the first time it has been widely available (originally it was distributed on CDR's to anyone who asked). Even after all this time, it's still an excellent album. It's interesting to see where Metz started, especially since you can download his newest album for comparison for free, as well.
There are clearly more 2001-sounds in this release than anything he's done since -- the EP is weird mesh of many of the things that were popular in the electronic scene at the time, including Aphex Twin, Daft Punk and Boards of Canada, to name a few. It doesn't have the maturity (or vocals for that matter) of Iuengliss's most recent outings, but what would you expect from an album that came from a senior in high school?
Now then, why would a musician decide to release an album from a prior era? Metz nails it perfectly in his description, "This album represents the world as I had seen it back then." For us, that means a window into the beginning stages of his music, which, apparently, means he viewed the world as a glitchy, electro-romantic paradise.