Damn that cookie (any suggetsions on reseting?)

I do a parody version of "The Burning Times", a song released by some one or another a few years back. I'm thinking of recording it for general consumption, as it tends to go down well at various gig's I'm fortunate enough to do. My question is .. Does anyone know if I should persue any legal stuff re' copyright. I'm thinking about putting it onto C.D., probably to be released in a year. It is quite intentionaly obvious that my version is a bit of a piss take. However, I can't believe that I will sell more than 200 copies in all.

So, any thoughts?

Paul