It should at least lose to a more worthy song, not that I have anything against ITEOTWAWKIAIFF (which I nominated for class song in my senior year of high school), it’s just not in the same league as Nightswimming.
The music video is worth seeing too. Not the four-something minute one, but the full eight-something minute uncensored version. I didn’t see it in my quick google search so it might be hard to find online. I have it on one of my REM dvds. It’s as beautiful as the song.
I was at a kareoke club with some friends a few months ago - someone chose this as their song, and at the appropriate moment, the entire club shouted “LEONARD BERNSTEIN!”
A
Radio Free Europe
Daysleeper
B
(Don’t Go Back To) Rockville
Feeling Gravitys Pull
C
Try Not To Breathe
Fall On Me
D
It’s The End Of The World As We Know It (And I Feel Fine)
What’s The Frequency, Kenneth?
That’s 'cause it’s the only words in the song anyone can pick out 
(Ok, fine, I admit it, I know all the words)
A
Radio Free Europe
Pilgrimage
B
(Don’t Go Back To) Rockville
Feeling Gravitys Pull
C
Driver 8
Electrolite
D
Nightswimming
Orange Crush
I think that for a lot of people of a certain age ITEOTWAWKIAIFF is a party song that brings back happy memories. That blinds them to the obvious superiority, on artistic merit, of Nightswimming. 
Oh, I know - I graduated in '88, so I’m in that demographic. And my hardcore R.E.M. fandom pretty much ended after they left IRS. But still, Nightswimming seems such an obviously better song…
A
Radio Free Europe
Daysleeper
D
It’s The End Of The World As We Know It (And I Feel Fine)
What’s The Frequnecy, Kenneth?
A
Superman
Pilgrimage
B
Half A World Away
Feeling Gravitys Pull
C
Driver 8
Electrolite
D
Nightswimming
Orange Crush
Driver 8 vs. Try Not to Breathe was hard! End of the World vs. Nightswimming was a no brainer for me. EofW is in the same category for me as Losing My Religion, in that I have heard them a million times and I am tired of them.