You should know I'm a music snob. Having listened to, played, created, toted, and roadied music for most of my life, I find it difficult not to love all kinds of music.
So you should know that covers, to me, are the bane of existence. For the most part.
There are notable exceptions, mostly transformational retakes of the song which exploits a good song's universality. Tim O'Brian's take on Norwegian Wood which converts an excellent Beatles song into Irish ballad. Or Fountains of Wayne's take on "Can't get it out of my head." Or TMBG's group sex version of "Tubthumper." But I typically shy away from covers that cleave close to the original.
This weekend, on the road, we heard a Fresh Air interview of Gillian Welch (and David Rawlings). At the end, Terry Gross asked them to play a song which isn't theirs, but that they love. Then they played "White Rabbit." Wow.
Here's their take at Telluride. They really play up the "spanish guitar" vibe (even without the "Bolero" drum riff). And their reverse, close harmony really cranks to the song. You can buy the version they played on Fresh Air. It's even better.