AND WAIT, THERE'S MORE: We knew those claymation California Raisin TV ads were a hit, but this is ridiculous. Priority Records has just released an entire album by the California Raisins, a new band featuring--among others--vocalist Buddy Miles (who did the ads), guitarist Pat Kelly and drummer Dave Stefanelli. The album, which will be followed by a new series of TV ads, features covers of such hits as "Lean on Me," "La Bamba," "Mony Mony" and "Respect." . . . Lou Reed, who we recently saw touting American Express in the campus edition of Newsweek (does this mean he's sold his Honda scooter?) has signed with Sire Records after leaving longtime label RCA Records. . . . And we hear that Nick Lowe, who is one album away short of finishing his deal with CBS Records, is already being wooed by a brotherly record label who'd like to make him part of the family.