I've listened to the eTube link and filled in what I could make out.

"crane" refers to the ingle hook used to suspended cooking pots in the open fire.

"Curing" the stout was the common custom of heating the stout until it was almost tepid by sticking a red hot poker into the jug, this practice was fairly common in Ireland into the 1950s and early 1960s.

A "trap" was an open carriage or "inside car" usually drawn by a pony. This was a common mode of transport in rural part of Ireland until the early 1960s.

"serve" in this contest means that communion was distributed to the communicants by a priest up at the altar rails rather that by lay people from the aisles as is now common.

Up until the late 1960s women and men were segregated at services in R.C. churches. Men to the priests right hand, women and children on his left. I think "Vatican II" may have been the catalyst that changed this practice.

A "rambling" house was a dwelling where neighbours and wandering musicians were welcome to gather and party.

"spancilled" had two distinct meanings;
a) to tie together the front legs of an animal to stop it wandering, I think this is its meaning in this song
b) it was a small token of money given to children by women (my maternal grandmother was the last person I know to observe this custom she died in 1966) it was distributed on some specific date in the year (I forget which date but it may have been on Little Christmas 6th of January). I must chech this out further.

Fergie
      
THIS STORY I TELL YOU IS TRUE

1. Come stroll for a while through my mem'ry,
And I'll tell you of time long ago,
When we walked to school summer and winter,
Barefoot through the fields we would go.
I remember our little thatched cottage,
And the half-door led into the hall,
The crane o'er the fire in the kitchen,
And the grandfather clock on the wall.

CHORUS: Oh, the stout it was cured with a poker,
And poteen they said cured the flu.
The bacon it hung from the ceiling.
Sure, the story I tell you is true.

2. We went in the trap to mass Sundays
And granddad he'd wear his best hat
When the priest he would serve from the altar
And the women in diff'rent seats sat.
Matchmakin' was part of tradition,
And the rambling house filled up at night
When the tailor would tell the ghost stories,
Oh, the children would shiver with fright.

3. I remember the sound of the anvil.
And the burning horse hooves we would smell
When we passed the forge door in the evenin'
With water we fetched from the well.
We spancilled the cows before milkin'
Tied the horse to the ...
These colour ..blinkers and reins
And the harness we kept

4. ... fair at ...
With ... with delight.
When the wheelin' and dealin' was over,
Ev'ryone waited round for the fight.
Now I hope that in telling this story,
I haven't detained you too long;
But there is so much more I can tell you
Someday in some other song. CHORUS