Is not altering a song considered plagerism? (What is the "parody bar"?). I know there was song altering from anything from Bob Dole in his campaign in 1996 using the song "I'm a Soul Man" and calling it "I'm a Dole Man", to a school using Lee Greenwood's song "God Bless the USA" and leaving out the God part.
I know I want to do a faithful representation of a cover, yet in my own way.

I don't know if I want to pay a fee to do the song, though. Unless there would be money to be made off of it.
Thanks for the feedback Brian!

Matt