R&B disciple Nick Waterhouse makes a studied but lively revival of the kind of music the Velvet Fog specialized in during his younger days, jazzy but rockin'. Back then, it was considered pretty cool, and to Waterhouse, it still is. You could easily be mistaken into thinking the name of his sophomore effort, 'Holly', due in March, is for Buddy. He leads a jumping live band that smokes, sharpened by dozens and dozens of regular club gigs in L.A. and Vegas. They do, in fact, still make 'em like they used to.