Great article! Finally someone is saying what I've believed for a long time.
Attention up and coming artists: don't get too big for your boots! If you can't out-do the original (unlikely) then stay away!!
I've often thought a good compromise would be to cover a lesser-known track by a 'great'. Some in the audience will recognize the song, but you've got more scope to make it your own. Kinda like covering "I Found Out" off Lennon's Plastic Ono Band record, rather than "Imagine"....!
Cheers!
Nick
http://www.oneflightup.com.au