It's one of my favourites aswell! I love that song so much! Love the trombone in it, and the mandolinsolo. The rock demo is not so bad either, but it doesn't fit the lyrics.
Don't think they've ever done it live. Can't see it happening either.
Like Jon said, it has a lot of the Wild Horses (Rolling Stones) feel in it. It could have been a amazing countryballad
Bring it on!