My approach to this tune was as posted in another thread that suggested that this tune be one of the tunes recorded at this Great Gust known as the 2001 Peekskill H/R Convention.
I've got my ideas of what's needed in another
acoustic guitar track.
This tune works as a great track to try to nab in one day by a bunch of folks that have never met.
I'm already excited that this could work!
This is fun in even a virtual sense.
>The funny thing is that I didn't create it. It's an official mp3.com sub-genre.
I need them to add Electro Gamelan!
As to the application of Genre, the "Folk Punk" title has some humor to it, but in reality the "Folk" label all by itself is what you have captured with both the simple but effective chords and the witty lyrics. The best of that genre shares alot of your ideas about production and structure.
The guitar tone sounded fine. It just needs another track with some noticeably different tone that doubles the rhythm mostly but syncopates in a few places with the strumming pattern on the track you've got.
I'm ambivalent as to how drums would work with this. Might sound overproduced; probably wouldn't hurt that bad.