"From the days of Killiecrankie, Finer ... and fair and swanky." I found it interesting that they name check Killiecrankie in the song and not Dunkeld. The Cameronians as a fighting force were raised about the time of Killiecrankie but as far as I know weren't at said battle. Their first action was at the Battle of Dunkeld a few weeks after Killiecrankie. I suppose for in a lyric Killiecrankie is the better known so it does say "days of Killiecrankie" meaning that period.

Battle of Dunkeld should be better known though. It was a kind of Scottish Battle of the Alamo. The Cameronians were there fighting as Scottish gvt forces raised by the Earl of Angus. Branding him a traitor the Scots had recently deposed James VII after he lost his English powerbase and offered the throne to his daughter and son in law who had just been crowned monarchs of England too. James Graham of Claverhouse rode out of the convention in Edinburgh into the Highlands to raise a force (Jacobites) in support of the deposed monarch. Claverhouse was later nick-named Bonnie Dundee by Sir Walter Scott. He was hated by many in southern Scotland though and had been called "Bluidy Clavers" because of his work in the suppression of the Covenanters in the period known as the Killing Times.

Anyway the Cameronian Guard were raised in south-west Scotland by the Earl of Angus and were basically a group of strict Covenanters who followed the teachings of of the Rev Richard Cameron. Their first action saw them vastly outnumbered defending the town of Dunkeld against a Jacobite force of Highlanders. They were gradually pushed back until they were concentrated on just a small area of the town and even though both their leader and his second in command were slain they refused to surrender and kept on fighting. Eventually the Highlanders seemingly simply gave up and started drifting away. Supposedly telling their superiors that they could fight against men but it was not fit anymore to fight against devils.

It wasn't the last action of the first Jacobite Rebellion in Scotland but it was really the turning point that ended the threat to the Scottish gvt.