Yeah, Peg. Whether or not someone can, in my mind, "get away with" an interpretation of a song depends solely on whether or not I like it.Ego can also be on either side of the issue. It can be a singer/songwriter not being able to stand hearing someone else's version of their song, or it can be a performer who has to change something (or anything) just to leave their stamp on it. They're both extremes examples - most folks fall somewhere in between.
The best non-McLean versions of Vincent I've heard have focused on the singing. Simple guitar, same words, but it was the feeling in the way those words were sung that made me like the singing of it. Focus on song, not singer.