Rafflesbear: Sounds a bit "folk processed" to me. Insulting slang does change a lot with the times, so in this kind of old song I'm not surprised to find phrases that don't mean a lot now, but specialists (or those with access to the specialist books) could identify. Current terms in old songs don't add credibility.

OK, now someone will come along and point out a 15th Century reference saying the same thing. In which case I'll have learnt something.