I prefer the vocal version, but yeah, I've had that video running as my background music probably at least twenty-five times in the past month--and watched it maybe ten of those times. And why not? It entertains me a lot more than most things released on the non-portables this gen.
The only downside being, of course, that now I can't listen to any of the themes that I recognize without "hearing" the SMW effects. Still a small price to pay.
If Nintendo ever put out a Super Mario World Music Creator, I'd buy it.