I know it was written in reference to Lenny Hart ripping the band off and fleeing ... but i didn't always know that, having listened to the song since it came out but not having access to the backstory at the time. So for a long time I had my own interpretation going that it was actually a homage to Neal Cassady. First of all the references to a ditch and trains echo with Cassady's career as a train man, and then dying on a train track or ditch in Mexico. And he was known for his dexedrine fueled hyper energy so the "Like a steam locomotive rolling down the track, he's gone" .. again hey Neal was an unstoppable train

And he was known to be something of a scoundrel so I thought the "Steal your face right off your head" was a homage to his scoundrelry , in the tradition of outlaw gambler and cowboy songs . Oh, and I didn't listen closely enough to hear the details that would contradict my theory, such is confirmation bias.

So that is the head canon i maintained for years, and honestly i still prefer it over thinking of Lenny Hart

Edit: I say in the first line that I know that Hunter says it refers to Lenny Hart. I'm not debating that.