Band from way back - nemesis of Pan's People? (2,4)

I believe the answer is:

dr hook

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'band' is the definition.
I know nothing about this answer so I can't judge whether it can be defined by this definition.

'way back nemesis of pan's people?' is the wordplay.
'way' becomes 'rd' (short for road).
'back' says the letters should be written backwards.
'nemesis of pan's people?' becomes 'hook' (I can't explain this - if you can you should believe this answer much more).
'rd' written backwards gives 'dr'.
'dr'+'hook'='DR HOOK'

'from' acts as a link.

Can you help me to learn more?

I've seen this clue in The Independent.

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