More madness of the old days.
Plus a little man coming out of his hand? Methinks the writers were smoking some metaphor metamphetamines.
Playing "Guess the Hallucinogenic" is one of the more interesting games to play with oddity and gimmick centered stories. This explains the end of the Silver Age - The Man finally raided the DC stash!
I'm jazzed by the fact Grant Morrison is bringing up that old story with the imp Superman, because it shows his heart is in the right place - although he may have left his talent in the other pants. Grant talks a good game about being weird and strange a guy, but he uses the most cookie-cutter plots ever; few of his plots aren't recycled from various saturday morning cartoons. Sometimes that works for him, he can turn his derivativeness into a strength (e.g. with his absolutely wonderful, cheesy, fantastic first four issues on JLA, which were so evocative of all sorts of b-movies and pop culture cheesiness) but sometimes it doesn't. Remember those issues of JLA he wrote where Darkseid takes over the earth and they have to face an alternate future where this evil guy rules, complete with old versions of themselves? I mean, dang, wasn't this an episode of SWAT CATS?
Off the top of my head, I can remember episodes of CAPTAIN PLANET AND THE PLANETEERS and GI JOE that had this identical story concept - and at least the CAPTAIN PLANET episode had creepy scenes involving "the last dolphin in the world."