Yeah, I think Barghest inflated expectations a bit. They've said they consider Eps a chance to take more risks, and in Barghest's case, the risk was to sound heavier and more '1993' than they had in a long time. The good news is, they are releasing another Ep early next year, which I am hopeful has a heavier sound.
I think the tracks are fine, a step up from their last two full-lengths, but as you guys said, not Barghest. Most early reviewers are comparing it to Angel and the Dark River, which was a great album, just not the type of album I wanted after that Ep.
http://www.doom-metal.com/interviews.php?entry=1094
Aaron gave some very lengthy responses in this interview, including why Barghest sounded so old-school (you'll note these tracks don't sound that polished either) and how he considers The Dreadful Hours his favorite album, a very good opinion indeed.