"I Bet You Look Good On The Dancefloor" (which I'm sure got credited as the "Arctic Babes Mix" at some point) is an automatic 10 for me. It knocks the spots off the original version and would have been a great single in its own right.
Had we rated the covers, though, that Band Aid 20 single would have been my only zero. I know it was for charity and all, but hey, nobody used that reasoning to be kind to "Walk This Way"...