This is the way I play this song, and it's one of the first ones I ever
learned.  Not sure if it's correct compared to the original recording,
but I think it sounds good.  Hope you enjoy it!  By the way, this is my first tab submitted!

Chords used:

===========  ===========  ===========  ===========  ===========  ===========
|||  D (xx0232@1)|||  |||  A (x02220@1)|||  |||  G (320003@1)|||  ||| Bm (x24432@1)|||  || Asus4|| (x02230@1) || Asus2|| (x02200@1)X=X=O======  X=O=======O  ====O=O=O==  X==========  X=O=======O  X=O=====O=O
| | | | | |  | | | | | |  | | | | | |  | | | | | |  | | | | | |  | | | | | |
| | | O | O  | | O O O |  | O | | | |  | O | | | O  | | O O | |  | | O O | |
| | | | O |  | | | | | |  O | | | | O  | | | | O |  | | | | O |  | | | | | |
| | | | | |  | | | | | |  | | | | | |  | | O O | |  | | | | | |  | | | | | |
| | | | | |  | | | | | |  | | | | | |  | | | | | |  | | | | | |  | | | | | |

D(2) (xx0232@1)       A(0) (x02220@1)       G (320003@1)      Bm(2) (x24432@1)      Asus4(0) (x02230@1)   Asus2(0) (x02200@1)  (3)          (2)          (0)           (3)             (3)          (0)
  (2)          (2)          (0)           (4)             (2)          (2)
  (0)          (2)          (0)           (4)             (2)          (2)
  (x)          (0)          (2)           (2)             (0)          (0)
  (x)          (x)          (3)           (x)             (x)          (x)


Intro: D (xx0232@1)A (x02220@1)G (320003@1)D (xx0232@1)
1st VERSE:
D (xx0232@1)                             A (x02220@1) Livin' on the road my friend,  was gonna keep us free and clean

G (320003@1)                                    D (xx0232@1)                          A (x02220@1) But now you wear you skin like iron, and your breath's as hard as kerosene

G (320003@1)                                  D (xx0232@1)                      G (320003@1) You weren't your momma's only boy, but her favorite one, it seems

Bm (x24432@1)                        G (320003@1)       A (x02220@1) Asus4 (x02230@1)name="chord_x02220@1">A Asus2 (x02200@1)name="chord_x02220@1">A
  She began to cry when you said good-bye

G (320003@1)                  Bm (x24432@1)    A(quick (x02220@1)change to Din (xx0232@1)the next verse)
  And sank into your dreams


2nd VERSE:
D (xx0232@1)                          A (x02220@1) Pancho was a bandit, boys.  His horse was fast, as polished steel

G (320003@1)                                  D (xx0232@1)                A (x02220@1) He wore his gun outside his pants, for all the honest world to feel

G (320003@1)                              D (xx0232@1)                    G (320003@1) Pancho met his match you know, on the deserts down in Mexico

Bm (x24432@1)               G (320003@1)   A (x02220@1)Asus4 (x02230@1)name="chord_x02220@1">A Asus2 (x02200@1)name="chord_x02220@1">A G (320003@1)                       Bm (x24432@1) A (x02220@1) Nobody heard his dying words               Aw but that's the way it goes


CHORUS:
G (320003@1)                      D (xx0232@1)                     G (320003@1) All the federales say, they could have had him any day

Bm (x24432@1)                G (320003@1)   A (x02220@1)name="chord_x02230@1">Asus4 A (x02220@1)name="chord_x02200@1">Asus2 A (x02220@1)      G (320003@1)            Bm (x24432@1)  A (x02220@1) They only let him slip away               Out of kindness, I suppose


3rd VERSE:
D (xx0232@1)                                  A (x02220@1) Now Lefty he can't sing the blues, all night long, like he used to

G (320003@1)                                    D (xx0232@1)         A (x02220@1) The dust that Pancho bit down south, ended up in Lefty's mouth

G (320003@1)                                D (xx0232@1)             GThe (320003@1)day they laid poor Pancho low, Lefty split for Ohio

Bm (x24432@1)             G (320003@1)      A (x02220@1)name="chord_x02230@1">Asus4 A (x02220@1)name="chord_x02200@1">Asus2 A (x02220@1)name="chord_320003@1">G                    Bm (x24432@1)  AWhere (x02220@1)he got the bread to go                  There ain't nobody knows


CHORUS:
G (320003@1)                      D (xx0232@1)                     G (320003@1) All the federales say, they could have had him any day

Bm (x24432@1)                G (320003@1)   A (x02220@1)name="chord_x02230@1">Asus4 A (x02220@1)name="chord_x02200@1">Asus2 A (x02220@1)      G (320003@1)            Bm (x24432@1)  A (x02220@1) They only let him slip away               Out of kindness, I suppose


BREAK:
       Same chords and timing as a verse...
D (xx0232@1)A (x02220@1)G (320003@1)D (xx0232@1)A (x02220@1)G (320003@1)D (xx0232@1)G (320003@1)Bm (x24432@1)G (320003@1)A (x02220@1)Asus4 (x02230@1)A (x02220@1)Asus2 (x02200@1)A (x02220@1)G (320003@1)Bm (x24432@1)A (x02220@1)
4th VERSE:
D (xx0232@1)                                  A (x02220@1) Now poets sing how Pancho fell, and Lefty's living in cheap hotels

G (320003@1)                                            D (xx0232@1)          A (x02220@1) The desert's quiet and Cleveland's cold, and so the story ends we're told

G (320003@1)                                       D (xx0232@1)             GPancho (320003@1)needs your prayers, it's true.  But save a few for Lefty too

Bm (x24432@1)                  G (320003@1)    A (x02220@1)name="chord_x02230@1">Asus4 A (x02220@1)name="chord_x02200@1">Asus2 A (x02220@1)G (320003@1)                    Bm (x24432@1)A (x02220@1) He only did what he had to do.                 And now, he's growing old


CHORUS:
G (320003@1)                      D (xx0232@1)                     G (320003@1) All the federales say, they could have had him any day

Bm (x24432@1)                G (320003@1)   A (x02220@1)name="chord_x02230@1">Asus4 A (x02220@1)name="chord_x02200@1">Asus2 A (x02220@1)      G (320003@1)            Bm (x24432@1)  A (x02220@1) They only let him slip away               Out of kindness, I suppose


FINAL CHORUS:
G (320003@1)                         D (xx0232@1)                     G (320003@1) A few gray federales say, they could have had him any day

Bm (x24432@1)                G (320003@1)   A (x02220@1)name="chord_x02230@1">Asus4 A (x02220@1)name="chord_x02200@1">Asus2 A (x02220@1)       G (320003@1)            Bm (x24432@1) A (x02220@1)name="chord_320003@1">G D (xx0232@1) They only let him go so long               Out of kindness, I suppose




So that's how I interpret the song.  It might be correct, it might not.
But I think it sounds great.  Any comments are welcome, thanks.