This is in my top 3 Beatles songs, so I was very excited that they were covering it. What I like about U2's version is that they didn't simply try to emulate the original--what would be the point of that? Part of the reason U2's covers of Paint it Black and Fortunate Son are so worthless is that they bring absolutely NOTHING to the song except their enthusiasm, and that just ain't enough.
HIAWG is a Lennon song that was cobbled together from three unfinished pieces. So you don't approach it as some masterpiece of composition that must be honored. Lennon was an experimenter himself, so I think he would appreciate that U2 tried something different with it.
I don't know if I'd call it a "great" track, but it's a reminder of a time when they were willing to try anything, and it still sounds fresh to me.