I just don't think this is a great choice for a swing number.
I wouldn't write it off as just "interesting," though I admit I have a soft spot for interesting recordings. I really don't think this falls too far away from the same tree from which "Laura" or "Stella by Starlight" fell.
When you commission lyrics to be written for your love theme, you sort of make it fair game, right? This isn't as awkward an example as "A Star Beyond Time," is it? I think it's a serious, valid musical reinterpretation, appropriate to the decade in which it was composed. It's not like they're making a joke out of the tune. Torme's vocal sounds sincere, even impassioned.
Occasionally, an unlikely pairing of style and substance can yield something really inspired: