Heard it through the grapevine has been done too much. I think he'd be better off with the Rod Stewart one (but as you pointed out, will he let them use his material) or Seeger's - Night Moves. I could really see him doing that one.
There's another song from 1976 that wasn't on my list, "All By Myself." I love that song and I think Taylor could do a very good job with it.