I like covers that try to be bold and not just copy the song, but rather offer up a new interpretation of it, so often covers are just an inferior attempt at the original. In a lot of ways I find covers a bit lazy coming from established artists. It is similar to film remakes, come on guys, go and make your own original movie, are you not an artist? Of the three, my favourite would be Ciara's attempt at Paint in Black which was a decent effort to be fair to her.
Bublé gets away with the covers as most people will not be familiar with the songs he takes on.
RE: Old made new over time