Geddy and I have had this conversation a couple of times in the past. He is fully aware of my involvement with this board, and in fact he and Alex take great delight in razzing me about it from time to time. Ged's response has been that its not really the bands style or more importanly--- preference, to play with another act on the bill; but he'd never say never, although he would say unlikely. Both he and Alex have both said they would be interested in a more festival type of appearance (not with DT, but other bands in general) if the right one came along, although Alex added "The right one never comes along.
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Just because they're on the same label, I wouldn't read too much into it. It's not like THAT has been what has been holding it back, and to imply that somehow Rush is holding such an event up, or would hold such an event up is just ridiculous. As far as I know no one has ever approached Rush about touring or performing with DT. Trust me, Geddy would tell me if they did. It's fun to speculate about a tour with these two bands, but that's really all it is at this point---wishful thinking.
Hell, who knows if even DT would want to actually do it. I mean it's one thing to be honored to share a bill with one of their heroes, but when it came down to it, would they? They might feel that Rush fans wouldn't want to see them perform on the same bill. My point is that a lot of bands are on this label, and they will never be any closer to playing together.
Would it be cool, yeah? It would be cool if Led Zeppelin got back together and did a world tour too, or if Elizabeth Bachman and her husband had a gay child; but just because Rush and DT share the same label, lets don't all go camping out waiting for tickets just yet.