I am used to, and much prefer, taking turns singing each verse.
Once the old standards are gotten out of the way, we start to make up our own. This is where the fun starts :-)
The verses can go on for absolutely ages, but it doesnt get boring as singers "bounce off" eachother, replying to insults delivered by previous singer etc. And the groans, guffaws and giggles make it all worthwhile. It saddens me somewhat to hear Martin Said done solo and without "added" verses.
Hell, it aint hard fer gawds sake...
Anyone can sing this song
Fie, man, fie.
Anyone can sing this song
Who's the fool now?
Anyone can sing this song
Ya make it up as ya go along.
Thou hast well drunken, man.
Who's the fool now?