The David Pajo timeline is impossible to completely summarize, sprawling and branched as it is, but it's all rooted in the similar (except for maybe Zwan), and Aerial M provides a good summary.
Recorded in 97, Aerial M was Pajo's solo project after leaving Tortoise and before redubbing himself as Papa M. The seven song album is more reminiscent of the latter material, comprised of pastoral acoustic pieces, more akin to Bundy K Brown's Pullman (though less bluegrass-y) than with the tension (or noise) of Slint. It's still got the elements of all of these Pajo projects (all of it being keenly familiar of Slint in some sort of fashion), albeit a more sleepy version.
With that said, As Performed By... was shortlived, and for good reason. It's not quite as interesting as the former Pajo stuff (Slint and Millions Now Living... being pretty hard to beat), and it's not quite as immediate (that term being used loosely) as the later Papa M stuff. Aerial M hints at all of these other moments, provides a brief summary of them, but ultimately only points to them as being more worthy of attention, with the sole exception being "Always Farewell," which stands amongst Pajo's best.