Mollificent, I'm with you all the way on "Famous Blue Raincoat", and most other Cohen songs! Other nominations (all a bit modern, but what the hell):-

The whole damn thing, every line, of "Sea Fever".

"The Reverend Green be glad to see you
When you haven't got a prayer -
Boy you got a prayer in Memphis."
(Marc Cohn, Walking in Memphis)

"Her mind is Tiffany twisted, she got the Mercedes bends"
(Eagles, HCal)

"The evening paper with horror tones,
But there's hope later for Capricorn"
(Dire Straits, Lions - and most of the rest of that song too!)
Graham.