Ah, the wonders of speculation. As I said to a similar discussion on the meanings of the verses of Jock-A-Mo (Iko Iko) like Shanties, more than one meaning was entirely possible - then we take the meaning that suits us.

I like the idea of St Peter's Shoon (as Cyril Tawney said it at the Four Fools Folk Festival in Leigh) being used as a nick-name for the pinnace. If you can't walk on the water you could get ashore at least in a boat.

And would not Martin be referring to Henry VIII wanting to be the English (and Welsh) equivalent of the Pope, thereby shining St Peter's Shoon being a subtle dig. Being Catholic in those days would have been too dangerous to admit openly.

As I said, unless you were there, and even if you were there: All meanings may apply