Gandolf from InternetI believe most people that give a version of lyrical meaning are way off. It is not political as some claim. I would make two observations. Some wonder why the watchman is sleeping. Well he's not, I think. I think he is high (dreaming) weed or something stronger. Therefore tripping a bit, but not sleeping. Secondly, some have given bewildering views of the score. You have caught the essence of the beat if you imagine, on the ballroom floor, women in gowns, men in their tuxedos, twirling to a lively waltz. ta ta ta-drum beat, ta ta ta-drum, ta ta ta-drum.
Mike Campbell from Tom Petty & the Heartbreakers played the slide guitar on "Sixth Avenue Heartache." There is a connection here - Wallflowers lead singer Jakob's dad, Bob Dylan, played with Tom Petty in The Traveling Wilburys.