You can count this one in 7/8 but I think of it as 14/8 because of the riff.
To me it sounds like the music you'd hear in the background of a surf movie while the guys are big wave riding.
A comment on this tune from garageband.com made me laugh - something about 'computers playing all the parts' and (sarcastically) how disinteresting it was because of that.
In truth, it's an Alesis SR16 playing the drum track, an SX 5-string bass, a Gibson Les Paul playing the main ascending sequence doubled in fifths, and a trio of Les Paul tracks playing the harmony intro and outtro with slide.
Go figure.