In the seasonal spirit I recommend Jaymz Bee and the Royal Jelly Orchestra's "A Christmas Cocktail". Jazz/Lounge/Weird versions of familiar and not so familiar Christmas songs. A real hoot, with some great playing, good sound.
Not sure I can get on board with covers of Hendrix or the Doors. Jim got a pardon on his (not really) indecent exposure charge in Florida this week!
I do prefer the Neville Brothers take on "Fly Like an Eagle". Note to purists, Steve Miller plays on this version.
Alternate versions that may not really be better, just a whole lot of fun can be found by Hayseed Dixie. You just have to hear these bluegrass versions of songs like "Walk this Way", "Fat Bottom Girls", "War Pigs" and even "Big Bottom". Fun live band that irresponsibly encourages heavy drinking!
Then there is "El Baile Aleman" by Chile's Senor Coconut. This most unexpected Latin/electronic album of Kraftwerk covers just has to be heard to be believed. Somehow it works, I actually like it very much.