my school choir has done this song at a concert, and it made most of the audience cry. some people even started to sing along. it's amazing to know that one song can have so much influence on a group of people.
I think this song is stating that no one is perfect enough to wear a crown, for they are all sinners. And the "lets go down in the river to pray" alludes to Jesus's baptism in the river, thus getting rid of sin.
Jalepano said it better than I could. Loved the movie O Brother, Where Art Thou? The album won a grammy and rightfully so. Great movie cinematology (sp?) and soundtracks. Alison Krauss seldom fails to impress.
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