Thinkin' to yourself, "He's a moron"

There’s the “funny misheard lyric”—There’s a bathroom on the right, etc.—and there’s the possibly profound misheard lyric, where your interpretation gives new meaning that the writer didn’t consciously intend. For 23 years or so, I have believed the Replacements’ song “One Wink at a Time” contained this verse in this form:

A mail-order ring wrapped tight
around a Singapore sling that night
think to yourself, “He’s a moron”
use me to lean against

But, according to the canonical Replacements fan site, it’s actually:

A mail order ring wrapped tight
around a Singapore sling at night
thinkin’ to yourself, it needs some more rum
use me to lean against

What’s the more crushingly banal of the two? And who’s worse, the airport dingbat thinking the drink needs more rum and/or that he’s a moron, or the “he” being leaned against?

And is this second verse happening in some kind of decaying shag-carpet steakhouse, or a midwestern airport cocktail lounge, or at that little tiny tiki bar in Silver Lake?