My $.02. ^^
I think that if you are doing a skit that has been done before a good amount of times, you should take it up a knotch. Make it your own. example: For all the not so great yaoi skits I've seen, I saw one at Anime USA 2005 that was just down right entertaining (and I'm not a yaoi fan at all). It's all about HOW you present it.
Side note: My buds and I did a Link skit at Katsu 2006. None of us have seen anyone use the song (at least at Katsu, Otakon, AMA, A-Next, AUSA), but figured people MUST have used it before. We made sure it was entertaining, well rehearsed, and... had a chicken. ^^ This is the skit: http://www.youtube.com/watch?v=9nlObQgGq3Y
It's not OMG WOW PERFECT, but it's entertaining (at least for the audience??).