"In Sir Patrick Spens I clean forgot the 42nd. verse
so I sang the 27th. once again and twice as loud
And no-one noticed....."

Fred Wedlock 'The Folker' on audiences not following the text.

As to the actual topic here, I think it depends upon the song being sung and what works for the singer. For me, for example, the perfect way to close Paul Metsers 'Farewell to the gold' is to repeat the last verse but without the refrain:

"I'll pack up, I'll make the break clean........."

...and out.Applause. Other singers may consider that ending unacceptable.

On the other hand, repeating verse 1 doesn't work for 'The female drummer'in my opinion.

Richard Thompson's 'Withered and died' is written with a repeat first verse (or part thereof) at the end.