I figured the kid in the original song died. Also, you momentarily lapsed into what was ostensibly a rewrite of "Southern Man," and then something Toby Keith would do, and also, I can't imagine this song would have a soft, mournful section. But keep on rockin' with your rewrites all the same.
Oh also, insofar as I can judge by singing your lyrics as I listen to the original, the lyrics don't always flow smoothly. The "mom you ruined my life" verse sticks out to me, because it doesn't follow the AABB rhyme scheme that Neil used and you picked up. Are you doing something different there musically? I can't tell. At any rate, if you're gonna cover this song, I really think you should leave the lyrics as they are. It bothers me when covers mess with the original lyrics. I think Limp Bizkit did this with "Wish You Were Here." Feel free to, as you said, provide a different way of arranging the music, add some instruments, do some other stuff like that. But I think the lyrics are kind of sacrosanct, especially with Neil Young.