Musically, it is by far the catchiest tune on the album. The smart transformation from verses to chorus and the subtle bass drum aid in making this more than a country song. It becomes something that anyone who enjoys good music can listen to. Classic country, a la rapid-fire banjo pickin', eventually rears its head a little over halfway through the album. Country wouldn't be country without something to elicit tears, whether they be of joy or sadness.
Wood chooses the latter.
No big deal. The dad gives him his old Schwinn. Then, in high school, the kid gets a date for prom. His car is a clunker, though, and he feels embarrassed to pick her up in it. Here he is by his dad's bed, and dad is dying.