Twenty years ago, Chapel Hill was widely touted as “the next Seattle” – the town most likely to yield another breakthrough alternative-rock act to follow in Nirvana’s wake. The gold rush never quite materialized, but that certainly wasn’t due to a lack of excellent bands. One of that generation’s wave was What Peggy Wants, best-known by now for future Squirrel Nut Zipper (and writer/voice of the hit “Hell”) Tom Maxwell. They’ve reconvened to play their first show in eons Saturday at Chapel Hill’s Local 506. Aggressive Pedestrians open at 9 p.m. and tickets are $8 advance, $10 at the door. See local506.com for details.