I like the Mikel Erentxun one, although I guess he changes the lyrics and loses the poetry (My Spanish isn't good enough to notice). I think the Divine Comedy slows it down way too much. Regarding the "emo" Braid cover, I must guiltily admit that I kind of like it. I think that kind of 90's American adolescent angst actually suits Morrissey's lyrics and Marr's melody surprising well. I also have a strangely soft spot for electronic music, so the robotic German cover kind of works for me. Of course the robot is alienated! It's a robot! The Americana version by Joseph Arthur doesn't do a lot for me, although I usually like Americana. The Noel Gallagher version is heartfelt and soulful, but it doesn't add anything to the original for me. I think the Dum Dum Girls version is kind of brilliant in a nihilist riot-grrl kind of way. As for the Miley Cyrus cover, well, the less said about that the better.
What's your favorite Smiths cover?