If you guys had never heard the Brion version, you would be loving that song right now. There's nothing wrong with it beyond being different. And the stupid video. There is something wrong with that.
Yeah, it's not as gutteral, but it's still alright. I don't like how slick it sounds (Rachael Yamagata, anyone?), but the songwriting still shines through. For example, the big out-of-left-field tempo change is still brilliant, despite the change in instrumentation.
The problem with this, from what I can tell in the short clip, is that there's very little irony to the song anymore. It sounds too happy. That may just be an effect of listening to it while watching the video, though. Speaking of which...
The video would only have worked if they had the guy actually speaking over the lyrics, as if he's reading them aloud simultaneously. Sorta like in the Richard Ashcroft video for A Song For All The Lovers. So, it was a good idea, miserably executed; either that, or it's a joke that no one else finds funny. Nicely edited, though.