  We present a study of the recently discovered intermediate polar 1RXS
J070407+262501, distinctive for its large-amplitude pulsed signal at P = 480 s.
Radial velocities indicate an orbital period of 0.1821(2) d, and the light
curves suggest 0.18208(6) d. Time-series photometry shows a precise spin period
of 480.6700(4) s, decreasing at a rate of 0.096(9) ms/yr, i.e. on a time scale
P/P-dot =2.5 x 10^6 yr. The light curves also appear to show a mysterious
signal at P = 0.263 d, which could possibly signify the presence of a
"superhump" in this magnetic cataclysmic variable.
