Quit old scene, excited about wonderful holiday (5,2,7)

I believe the answer is:

leave of absence

'holiday' is the definition.
(thesaurus)

'quit old scene excited about wonderful' is the wordplay.
'quit' becomes 'leave' ('leave' can be a synonym of 'quit'**).
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'excited' indicates anagramming the letters.
'about' is an insertion indicator.
'wonderful' becomes 'fab' (slang abbreviation of fabulous).
'scene' with letters rearranged gives 'sence'.
'sence' enclosing 'fab' is 'fabsence'.
'leave'+'o'+'fabsence'='LEAVE OF ABSENCE'

I've seen this clue in The Telegraph.

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