I just put it on and noodled around with it a bit, and I'm pretty sure that Stan is playing his 12 string in DADGAD capoed 5th fret to put it in G...

Just like he did for Mary Ellen Carter... lots of the same chord runs in common...

That's some great really cool minimalist finger picking... and ya gotta love Garnets fiddle work on this song!!!!!! They were so good for each other...

;-)