Okay, Manfred Mann’s version of Blinded by the Light is not on my top 10 (or, even top 1000) list of favorite songs, but consistant with the OPs intent, it is infinitely better than Bruce Springstien’s original.
The Chantel’s version of the Ventures Pipeline
Joan Jett’s version of I Love Rock and Roll. Joan took the Arrow’s version and created a rock and roll classic.
The Blue Man Group’s version of the Who’s Baba O’Riley is really kick ass. And, yes, it helps to have a visual. Their version of I Feel Love is time well spent as well.
If you haven’t experienced Quicksilver Messenger Service’s version of Roy Rogers and Dale Evan’s version of Happy Trails, consider yourself fortunate.
Does Tomita’s version of Pictures at an Exhibition count?