I remember the very first time I saw this - It was an instant favorite. I was a teen, I was into the likes of Duran Duran and at the time was not quite sure about Bowie because all I knew was "China Girl" and wasn't a fan. I loved Bing Crosby because I'd grown up with my grandma Mimi loving Bing and she inspired many of my first loves of music and movies.
This was the crossroads of things I'd grown up with and things I was getting into, so it resonated with me in a sense. Also, the song is beautiful - the way they brought the two songs together with their distinct voices, it was symbolic of the peace they were singing about.
Up until this performance, my favorite Christmas songs were Silver Bells and Silent Night... move over tunes, Bowie and Der Bingle are in town...