There are unimaginative covers that may not play well. Tired, as some would put it here. But, they are crowd favorites for a reason. What is really interesting is when a band has an unique take on an old favorite. I keep a play list of interesting remakes that I listen to regularly; it contains over 70 songs, including such tired old songs as Lucy in the Sky with Diamonds, Sharp Dressed Man, Freebird, and a couple of versions of Smoke on the Water.
I've heard that done to "Can't get next to you" and "Viva Las Vegas"