I have The Last Great Waltz on a Mason William's record, "The Mason William's Ear Show". I'm not sure if Max wants us to add copyrighted lyrics to the forum.

You can search for the album or see if it is re-released on tape or CD.

Here is what the album notes say about the song:

"The Last Great Waltz", also from the "Dada Trilogy" (part III), was written in December 1964, when Mason was living in a Japanese-Mexican section of Los Angeles. Tom Smothers and Janet Leigh did the honors on television. Here Mason is joined by Jennifer Warren, a delicious Pat Paulsen discovery. There are eight seconds of silence following the song - for your applause.

This is a fun album, with the other cuts being:
Road Song
Baroque-A-Nova
(Whistle) Hear
One Minute Commercial
$13 Stella
Love Are Wine
Cinderella-Rockefella
Generatah-Oscillatah
Saturday Night At the World

Alice Flynn