Orac states above that the song should be sung in 4/4 time.

I would respectfully disagree, and suggest that the song comes across much better when sung in 3/4. What any printed music might have as the time signature is of no consequence.

The Rose of Allendale is one of that select group of songs which can be performed equally well in 4/4 or 3/4. The Star of the County Down is another which comes readily to mind.