I like it, definitely one of the better covers. There's been some shockers like GnR and Motorhead. I think the key to doing this song justice is to keep the groove, enjoy yourself and do not try to be clever.
Your wife clearly has great taste!
I really do think it's a work of genius. Lyrically it doesnt get much better, especially the opeing lines, and the music is a perfect loose but tight groove...if that makes sense.
I'll listen to this cover now.