First off, I want to agree with mblase that the E2 Lyrics Noding Standard has some good ideas, and that the above nodes also hold some good ideas, but after some friendly pressure from mblase to conform, I felt I had some things to say.
Everything should be noded. I can't think of a valid reason why anything should not be noded, especially lyrics. Everyone has a favorite song and the one song they loathe. If it's already noded, why not go on to the next? Unless there is a copyright issue, and the author or publisher has made this clear on the official website, go for it.
M, making sure every noder has access to the complete works of Bing Crosby or Korn is a valid mission within E2. What looks like noding for numbers is usually quite different to the "offending" noder. I'll agree that a node is always better when craftmanship is the goal, when explicating this kick-ass album to the world or whatever. Nothing wrong with lots of noding.
Lyric nodes can be considered a form of factual node: you didn't write the lyric (or if you did, this rant doesn't really apply to you), so you're just reporting the facts of it. The purpose of noding it is for it to be avaliable to whoever wants it, Personally, all of my lyric nodes have low scores, averaging around 2 or 3. Yes, some are in the negative, yes a whole lot of them remain at zero. I don't care.
What I do care about is that a node that is properly formatted, contains correct material, and is linked reasonably well, that people can still look at it and nit-pick it because it doesn't fall within their Meaning of Life framework.
I'm sure mblase was trying to help, in case I felt the same as he/she did. mblase was very polite and helpful, and his suggestion did make me go back and check it in various ways, and a few corrections were made. However, those corrections did not include any of his suggestions. If you want to know the year that song was released, follow a link to the album. Your opinion/interpretation of the work is a great thing to have on E2... but it is NOT a requirement to keep your login at E2. If you mess up, they do not take away your wings and banish you from Noder Heaven.
E2 is large enough for all races and creeds, including those of us who think that noding the song, telling who it is and where it's from is enough. But it also has room for those who feel that the same node is cause for an XP pack rape. No big deal, either way, as long as each party understands that it doesn't matter, in the end. If you feel the node needs more information, go ahead and node more. Make a correction, if needed. Add information about different versions, more recent, or older ones. Or downvote it, and all the songs by the same artist, or the same noder, or heck, every lyric node. Make your own path, and Earn your bullshit.