Interesting couple of posts, there. I haven't heard Lulu's Trampoline Man but she does a pretty good job of David Bowie's The Man Who Sold The World, which is helped by the sax riff from DB himself+. But it is so hard to successfully cover Dylan's more iconic songs because they are almost a gestalt of unusual atructures, odd verse lengths, and attitudes and of course the eccentric singing and guitar-playing (Bob Dylan was a far more proficient guitar player than many people credit him as being). A Dylan recording is a complete thing not simply a song that he is performing. It's quite hard to put that over! Where he has written a straightforward popular song, such as Make You Feel My Love, then covers are more likely to be successful, as in Adele's. I still think it's a fairly average song, though! It's fashionable to cite Bob Dylan's endorsement of Jimi Hendrix's version of All Along The Watch Tower but really what I think he was doing there was nodding his approval of Hendrix's guitar-playing, one artist to another. As a song, I prefer Dylan's version and it's from a wonderful album. Even Stevie overcooks Blowing In The Wind and I can't imagine Cliff cooking it at all. Tambourine Man by the Byrds was a great sound, especially with the Rickenbacker 12-string, but it's such a long song that Roger McGinn's voice gets on my nerves after a while - sorry, Roger! It's obvious that people will want to sing Dylan's songs but I think maybe concerts are the best medium, rather than recordings. Unless you're Joan Baez - her covers of Dylan are both respectful and beautiful.
Sorry, I've used both sides of the paper!