This article presents a "longitudinal" study of Bob Dylan's performances of the song "It's Alright, Ma (I'm Only Bleeding)" over a 45-year period, from 1964 until 2009. The song makes for a vivid case study in Dylanesque reinvention: over nearly 800 performances, Dylan has played it solo and with a band (acoustic and electric); in five different keys; in diverse meters and tempos; and in arrangements that index a dizzying array of genres (folk, blues, country, rockabilly, soul, arena rock, etc.). This is to say nothing of the countless performative inflections in each evening's rendering, especially in Dylan's singing, which varies widely as regards phrasing, rhythm, pitch, articulation, and timbre. How can music theorists engage analytically with such a moving target, and what insights into Dylan's music and its meanings might such a study reveal? The present article proposes one set of answers to these questions. First, by deploying a range of analytical techniques-from spectrographic analysis to schema theory-it demonstrates that the analytical challenges raised by Dylan's performances are not as insurmountable as they might at first appear, especially when approached with a strategic and flexible methodological pluralism. Second, the article shows that such analytical engagement can lend new insight into an array of broader theoretical questions, especially those concerning the refractory relationship between song and performance in Dylan's practice. Finally, the paper illustrates that a close, analytical attentiveness to the sonic particulars of Dylan's live performances can open our ears to the cacophony of musical pasts that animate his music making.