Oh man, you're showing your age if you don't prefer the Buddy Holly version.
No, it's too fast; I don't think the tempo works with the Jay-Z vocal.
FL: That's because the vocals are pinned to the BPM of the song. Or were—I just read (in The New Yorker, I believe) that AcidPro (that's like MovableType for mashups) has unveiled a new feature that allows users to speed up or slow down a beat without affecting the vox.