Yes i think this is the most powerful version of the song, even better than Marley's. People go on about Hurt and with good cause, however i believe this is just as wonderful. Again he brings a different interpretation to the lyrics, given the past of both these men. I think you need to be older to capture this song, since we dont have Bob around i suggest you hear this.

Three dead men. An acoustic guitar and two dead mens voices sing a dead mans song.
I play this to make grown men weep at the end of the evening.
It was included in the cd box set that American recordings put out after Johnny Cash died. Fortunatly for me someone has cherry picked that set and bootlegged the results onto more playable and affordable vinyl. Although I suspect there are many more songs I'd love in that set, this one I knew would work so well.