Jon,
It is a burlesque, no question, and part of the attraction is the exaggerated delivery taking the piss out of the original. Originally it would have been sung in costume on stage. I can't believe Dick thought this was a serious song!

Just to show I'm not completely in disagreement, Dick, I agree with you on 'Bonny George Campbell', but I know singers who think it is lovely, and they're perfectly entitled to do that.