The version of "Gambolier" in the DT is an exact transcription of the version in My Pious Friends and Drunken Companions (Frank Shay, 1927)[no tune in "Pious Friends"]. It could use an extra line break after the chorus, but otherwise looks good.
The version Q posted is a bit different, but both versions have basically the same three verses.

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This Page at GATECH.edu has the lyrics that are more familiar to us (and a recording):

The Ramblin' Wreck
  By Frank Roman

I'm a ramblin' wreck from Georgia Tech
  And a hell of an engineer--
A helluva, helluva, helluva, helluva, hell of an engineer,
Like all the jolly good fellows,
  I drink my whiskey clear.
I'm a ramblin' wreck from Georgia Tech
  And a hell of an engineer.

Oh! If I had a daughter, sir,
  I'd dress her in White and Gold.
And put her on the campus
 To cheer the Brave and Bold.
But if I had a son, sir,
 I'll tell you what he'd do
He would yell, "To hell with Georgia,"
 like his daddy used to do.

Oh! I wish I had a barrel of rum
  And sugar three thousand pounds,
A college bell to put it in
  And a clapper to stir it round,
I'd drink to all good fellows
  Who come from far and near.
I'm a ramblin', gamblin',
  Hell of an engineer! Hey!

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This page of Georgia Tech Traditions gives some background:

The Georgia Tech Fight Song is perhaps the most widely known song associated with a school. The song began in 1885 when majority of the student body traveled to Athens to watch Tech defeat Georgia's baseball team. The tradition was established in the early 1900's. Bandmaster, Frank Roman, changed some things in the song and how he left it is how we know it today.