The Flaming Lips do a great Bohemian Rhapsody, but it is not better than the original.
I recall The Flaming Lips covering a Kylie song on a TV show, once. They turned it into a rare old slice of weirdness. Hehehehe.
Can't Get You Out Of My Head (googled it as it's 1.15am). Their version of Karma Police was no where near as good as the Radiohead version.
Interesting with Radiohead, most cover versions suck - but Gnarls Barkley's version of Reckoner would be one of the few Radiohead songs which can match the original version.