Seems to be basically a song from the M Knopfler band of the time of the STP sessions, produced by the same team and recorded at the same studios too! Only difference is the song wasn't written by, or had vocals from Mark.
Nice tune but I was expecting a little solo from Mark at one point; all these lyrics in one go is a bit too much. There wasn't really any Knopfler stamp on it.
I recall that after STP came out, or during the same period if time, it was said MK was producing James Taylor next record. When they played together at Boston in 2001 the song "Raised up family" which was a new one by Taylor, it was thought that it might be one of the songs of the record MK was producing to Taylor.
But then came out "October road" finally, in 2002, with that song in the track list, but nothing related to Knopfler there except "Sailing to Philadelphia" that was included only in the limited edition of the record.
Now, with the picture posted by Knopflerfan of the credits of the deluxe version of "Before this world" we know that actually MK wasn't producing a record for James Taylor but just two songs, recorded in the same sessions where they cut STP song, and finally that two songs saw the light of day!
Actually I wish they had made that record together but, two songs are better than none!