I think it all depends on what I feel while listening to the song. Sometimes the words just seem to get in the way, other times they're what take it from a good song to a great one. An example of this is "What Sarah Said" by Death Cab for Cutie. Beautiful instrumental made better with extremely well-written lyrics.

Either Way by Guster was always my favorite.

I'd argue they broke up in 2015 when Spencer Smith quit making Panic! A Brendan Urie solo project using the same name.