Zwan, Shepherd's Bush Empire, London

Billy Corgan has never been backwards in coming forwards. As the erstwhile frontman of the improbably popular Smashing Pumpkins, he earned himself a reputation as one of rock's egomaniacs. However much you wanted to like the Pumpkins' goth-grunge racket, Corgan was ridiculous, a baldy with a God complex. Even Ozzy Osbourne's ass-kicking missus, Sharon, threw in the towel as the band's manager, claiming that Corgan was bad for her health.

The Pumpkins are no more, however, and with Zwan, the singer's new project with the guitarist Matt Sweeney, the former Pumpkins drummer Jimmy Chamberlin, and the ex-Slint guitarist David Pajo, he has crafted a pleasingly melodic album, Mary Star of the Sea.

Corgan's wail and excruciating vowel sounds, an acquired taste most would agree, are still present although there's little of the absurd histrionics that characterised later Pumpkins albums such as Mellon Collie and the Infinite Sadness and Machina.

Zwan is a more straightforward affair that tackles themes such as love and loneliness. This was the first UK show, a performance that sold out days after its announcement. Clearly, there's Pumpkins nostalgia somewhere out there. And despite the new album having been out for less than a week, most can sing along with the choruses. Corgan – looking more like Al Murray, the Pub Landlord, every day – is still taking himself seriously, refusing to indulge in any banter with the crowd despite their repeated chants of "Billy, Billy''. For the most part, he keeps his head down and gets on with the job.

And the music? Corgan and his band stick to Zwan songs, persistently ignoring requests for old Pumpkins' numbers. Happily, the tracks stand up. "Lyric'' and "World Goes Round'' are anthemic pop songs. While the more low-key "Broken Heart'' and "Friends As Lovers'' reveal a refreshingly reflective side to our host, Corgan's still got a taste for goth-rock as is clear from "Jesus" and one of the encore tracks, "A New Poetry''.

There are a few too many cod-prog instrumentals, with Corgan striking rock-god poses with his guitar. The crowd laps it up though, and the atmosphere remains celebratory as if we're welcoming an old friend back to the fold. After the final encore, Corgan even looks us in the eye and cracks a smile. Wonders will never cease.