Lots of good stuff in here. Time warp city, definitely 70s prog.
Vocals need to be louder, even if this is an early version.
Musically, you have quite the conundrum

I can relate, I've struggled with this every day for the past 37 years.

You are composing music from 1972 in 2007. You could literally pass this off as some group's long lost tape from 1972, that in itself is a skill. HOWEVER, that in itself makes it sound dated, regardless of what year it currently is.
This took a lot of work.

My only suggestion would be figuring out how to make it live in both the past and the future. One idea would be to use a modern soundset i.e. modern synths. This music isnt dead, merely on life support. Groups like Dream Theater and Spocks Beard still do it.
Classical composers do it. Stravinsky wrote very modern stuff. At one point, he went into neo-baroque mode, and wrote a piece called Pulcinella that sounds like it was written in 1730 ( he wrote it in 1930). However, every once in a while he gives you a reminder of what year it is by throwing you a curveball musically. He also does it with a more modern orchestration. Your orchestration on this is 1972. I am guessing that if you throw in some modern synths and a few concessions to the present, you can have the musical ideas from the prog era live in the now.
Well done, very unusual to hear something like this here.