I agree. The apocalyptic tone, the great rhyming schemes, and yeah I'd say the overall sound. Not the production mind you, the sound. If Bob and the boys did this one in the Basement, I could hear it as a warmup for Million Dollar Bash. It certainly is one of the better songs off of Under The Red Sky. The sound of the song is what matters here. Sure the words are important, but mostly it's getting the final word of every line right and making sure the word unbelievable is heard clearly. But Bob has probably switched these lines up more than any song he's written. Doesn't matter though, it's the energy that counts. That is what makes UTRS so frustrating. Doesn't quite cut it IMO. That being said, Unbelievable is a new kind of song for Bob. It's sort of a jump blues rock song, like a Muddy Waters or Buddy Holly jive. Wiggle Wiggle and Cat's in the Well are in the same vein. This music needs a good deal of energy as well as some hot players round you, which UTRS sort of had, but...ah well, who knows what really went wrong with that album?
Anyway, there's only one great version as far as I know and it's Philadelphia 1995.
Bob did it twice in 95. Germany's good. You hear it and already it's the best version he's ever done. But then Philadelphia comes along. The whole first night is incredible. Bob's in a great mood and they're all ready for this song. Starts off tentative, but Bob quickly begins tearing it apart. His energy is incredible. And strangely it's perfectly rendered.
And the J.J. Jackson/ Bucky Baxter combo...still my candidate for best NET band. Here's a perfect example why.
http://www.humyo.com/F/9546317-734449779