Well said, Brian -- reminds me of the opening scenes in that smashing wee film "Songcatcher" where Janet McTeer is lecturing passionately in a conservatoire about ballads before demonstrating "Barbara Allan" with piano accompaniment (in a musical but uncommitted voice); within a few minutes she has been transported to Appalachia where she hears an unaccompanied traditional version of the same song. And the scales drop from her eyes!
Personally, I love ferreting away into song versions, folklore etc. - but I'm well aware that for many/most(?) people the story rightly comes first. And I also worry at times about putting ballads on pedestals; I know how important they are to me, but I would hate to scare off someone else who might prefer to enjoy them in a different way.