Good Thread!I always play the song intro by ear. I am not one to spnd much time on introductions, and I recognize that some performers do this so well, and I believe it can be a very important part of the show.
I usually select songs in a series to introduce others, and string a series of ideas together. When I want to play one of my own songs about a given subject eg., Scot/Irish immigrant's experience in the US, then I will likely play one of my favorite songs from that tradition, and talk a bit about why I like the song, then when I play my own song, I have already set the stage, a bit, and less lengthy intro is needed.
I also have a habit of playing too many songs, and give very little introduction. Sometimes, none at all. But I agree, that some intro is normally appropriate.