It wasn't until after I started playing Rock Band with friends that I noticed that a whole lot of lyrics in general are completely inane. (count me in as one of those guys that never listen to the lyrics)
Seriously, though, I'm a fan of Blue Oyster Cult's lyrics, which can range from pretty nonsensical (She's as Beautiful as a Foot) to basically the straightforward relation of a story (Then Came the Last Days of May).