To me, cover songs often fall flat because it sounds like the cover artist is just reading someone else's lines as opposed to having a distinct voice.
For me, Cale's version sounds "lived in", if you will. He's taken the words and made them his. There's bitterness, hurt, humour, and real meaning imbued in each line. It's not elegant, it's a bit rough and raw. I think Cale is an underrated vocalist.
Other cover versions like Buckley's sound technically very proficient but slick and emotionally hollow.