The first thing I would do to get a fresh sense of the song is to sing (and record myself doing so) the whole thing in the familiar melody (Steeleye Span) but in 3/4 time. Even just running 1 verse & chorus I found it starting to feel more like a lament 'in memoriam' than the sneer-ish "good riddance" SS take on it. Speaking for myself, I'm sure different emotions would bubble up through doing the whole song. I would likely also try it with a few different bring a different feel to the lyrics. Maybe I'd also try it making up a very chant-like melody, accompanied only by djembe. The important thing is to jump in the metaphorical sandbox and have fun exploring.