I don’t really know that this is western per se but it’s certainly evocative of the west, and any song that’s had the honor of being covered by Chet Atkins, Charlie Rich, Conway Twitty, Willie Nelson, Waylon Jennings, Dwight Yoakam and Elvis Presley has a fair amount of cred.
Here’s the original, written and sung by Danny O’Keefe - “Good Time Charlie’s Got The Blues.”
http://www.youtube.com/watch?v=ukcpqBLNROo
This one is from that same time frame, if memory serves:
Featuring Duane Allman on Dobro. Excellent song that never got the playing time it deserved.