On reflection, I found the stanza about the ladies in "Time, Gentlemen, Time" to be mildly ungallant, or, as we now say, politically incorrect. So I have come up with the following ambisexual version:

Here's to our limbs, our lusty young limbs,
That used to put on such a show.
Here's to our guts, our bosoms and butts --
What was it that made them grow?
It was time &c.