Thank you, it is the first version that I heard. I also translated the first verse the same way. I have been furiously trying to work out the second verse, but you have done it for me. Again, thanks. Itis indeed a Munster version. I love the arrangement I have been listening to. I am going to do it with a bodhran, two whistles playing octaves, and a very spare fingerstyle guitar. It has a great drive to it.
My understanding of the version "Ta Na La" is that it is sung in pubs and gatherings with different people taking the various parts, and is good craic, especially after the appropriate jars of the aul dark stuff have been imbibed.
All the best,