I'm torn really. I enjoyed "Insurgentes" but then didn't much like "Grace for Drowning" at all. I don't know what it was about that album, none of it really hit me the way Wilson generally does all of the time. And now I've heard "The Raven That Refused to Sing," and I both like it and find some of it lacking. I guess that one's a track by track basis, if I'm in the mood for it--as you said, being in that perfect mood.
And actually, I'd bet if I listen to "Grace for Drowning" again now I might find bits of brilliance throughout it. Maybe I just wasn't in the mood for that side of Steven Wilson when I listened to it so long ago.