It's good, and so was Golden Earring. I personally prefer the Byrds' version. I find that for about 90% of music and movies, I much prefer the original to the remake, either by a cover artist, or even the original band.
I leave that 105 open because there are some very creative covers out there. Smith's cover of "Baby it's you", or Quiet drive's cover of Cindi Lauper's "Time after time". for example. I like the way Vanilla Fudge did "you Keep me hanging on", "Bang Bang" and "people Get Ready" better than the originals, too. Jeff Beck did a good cover of Elvis's "jail house Rock", and Hart did a really good cover of "Stairway to Heaven". I can name a bunch more, too.
I liked Golden Earrings cover of "8MH", but I like the Byrds' original better. I like the original studio version better than the live version , by the Byrds, also.
Weird, eh?