I've come a bit late to this thread, but having read Good Soldier Schweik's post with the lyrics of "They stone you..." I felt the need to put in my twopence, for what it's worth.

I was young and ardent once (!) and well remember Dylan's songs, especially "Down in the basement..." and "They stone you..." The words absolutely resonated with me. As students we learned every word (Len Cohen's songs too) and sang along enthusiastically. I was studying the entire Works of Shakespeare, and practically all the classical literature, poetry and prose, including Chaucer, not to mention (well I will then) most French and even Latin works of literature and poetry. (My degree was an MA in French and English Literature)
Yet I still felt Dylan's songs and lyrics to be superb and evocative. They have a certain urgency and relevance about them. Even now, (old and past it) I can read the lyrics and feel the same as I did then.
Most great writers have produced mediocre works among the pearls, Dylan too. But his excellent stuff is just that....excellent.

I agree it was churlish of him to neglect acknowledgement of the honour, but I expect he (like John Lennon) didn't particularly see why he should have fallen on his knees with gratitude and grab the prize like a starving man. His whole life was centred around questioning the Establishment after all...