File:Pyramid Song for Wikipedia.jpg

Comment and Extension
The displayed rhythm is correct (verified by measuring, with audio software, time distances between the notes in the original song). However, the 16/8 meter does not account for (a) the phrasing of the song's lyrics, (b) the stress pattern of drums, bass, and other instruments, and (c) the piano's chord changes (especially in the F#min -- E9 section). A pattern of 6/8, 10/8, 10/8, 6/8 appears to account for those additional features. Here is an attempt to display the relationship between chords, bars, and lyrics: http://commons.wikimedia.org/wiki/Image:Pyramid_meter.jpg

I agree that the 16/8 meter does not work. That would mean that there are 16 beats per bar, with the 8th note getting one count. This is clearly not the case. The note values in the figure on this page do work if counted in an x/4 meter (with the quarter note getting one count), but that does not explain the phrasing whatsoever. It's true that stress patterns and phrasing must be taken into account, however, the pattern shown in foregoing link which tries to account for all of these doesn't posit any meter, it just tries to squeeze 16 counts into each phrase with no indication of note values. My version does take all these things into account, and results in: 3/4-2/4-3/4 which is repeated over and over. Listen to things like the kick drum (which drummers will almost always place on the 1), as well as when the chords change. The overall pattern is almost chiastic, or rather a mirror image of itself. 3-2-3 / 3-2-3 // 3-2-3 / 3-2-3 although, admittedly, calling it a chiasmus is possibly a stretch. Then again, chiasmus is often somewhat veiled, making it hard to pin down, but that's another topic.