Not sure if it can REALLY be considered "Smashing Pumpkins" as it's just Billy Corgan, but it's his band.
Anyway ... the new song is now available for download. Personally, the song didn't do it for me. I'm hoping it will fit with the rest of the music, but as a stand-alone track ... not feeling it.
Here is the article talking about the free download.
Billy Corgan offers new Smashing Pumpkins' songs for free online