| SLOW FADE - V1 | 18:57 | LM-15 |
| SLOW FADE - V2 | 2:52 | LM-15 |
| SLOW FADE - V3 | 3:12 | LM-15 / LMEC2 |
| SLOW FADE - V4 | 3:24 | LM-15 |
| SLOW FADE - V5 | 2:49 | LM-15 |
| SLOW FADE - V6 | 3:04 | LM-15 / OSOR |
Note: All of the above are rehearsal workouts at Telegraph Hill on February 5, 1980 of a song that was bootlegged under the title "Slow Fade". Unfortunately, the true title of this song is a mystery since it has not appeared in studio documentation anywhere, we have no audio evidence beyond what is listed here, and the lyrics are buried in the mix. However, modern AI techniques allow us to extract vocals from audio tracks, and Brucebase contributor Cosmickid has discovered a secret: lyrics to "Point Blank" are hidden in "Slow Fade". For example, at 0:33 in V5 (track 9 of Lost Masters XV) the line "Point blank, shot in the back babe" is clearly audible. The next few lines are distorted, but repeated uses of "Point Blank" can also be distinguished. The chorus is repeated at around 1:05, and "Point blank, shot in the head" can be heard. Moving on to 1:30, you can hear "Your face was in the shadows but I knew that it was you", followed by "You were standing on the corner" (instead of "in the doorway"). The rest of the verse is heavily distorted, but the phrasing suggests the verse continues in the same vein, perhaps with different lyrics. The chorus is then repeated, with "Point blank" and "eyes" audible through the distortion.
What this means for "Slow Fade" is up for debate. It would be reasonable to assume that "Slow Fade" is another alternative arrangement of "Point Blank", but it is possible that Springsteen was using the lyrics of "Point Blank" as substitute lyrics for another incomplete, work-in-progress song, an activity that we have documented evidence of. It's likely that "Point Blank" was finished in August 1979 (aside from February overdubs) so it would be odd (but not impossible) if Springsteen was working on another arrangement of the song six months later. Note that we are relying on the Lost Masters liner notes for the title and recording date of "Slow Fade". It's entirely possible that there was a mix up with labels, cases, and cassettes. The title "Slow Fade" was written on the February 5 tape-card, but is probably not related to the actual song.
The 'Lost Masters' material comprises over thirty minutes of the band working on all parts of the song, giving a fascinating if ultimately frustrating glimpse of their recording processes. A solo demo titled "Slow Fade", recorded in late 1979 and found on 'The Lost Masters Essential Collection Vol. 1' is not related to this song, it is an early version of the song, "Fade Away".