Wow, the world's greatest songwriter covers the world's greatest rock n roll song. Who would have thunk it? This was filmed probably around 1986 or 1987 when Dylan toured with Tom Petty and The Grateful Dead. You can see Tom Petty in the video and I assume the band is The Heartbreakers. I am wondering if this is a sound check as opposed to a live performance. It's pretty off the cuff.
Dylan seems to be having fun and I think he is playing lead guitar. It is interesting to note, that when The Kingsmen released Louie, Louie back in 1963, Dylan was still writing and recording ultra serious socially conscious folk music. To quote the man himself, "I was so much older then, I'm younger than that now."
