It doesn't help that Paul was singing a song that was rougher on his voice as a younger man. Maybe if he'd sung Blackbird or Mull of Kintyre, it wouldn't have been so shaky. I think it had a lot to do with the fact that he only performed one song, I'm not a professional singer by any means, but I gotta sing about 10 minutes ahead of time, or I sound pretty bad. It's the same with guitar. You gotta get the blood flowing and the muscles warmed up.
Bob on the other hand, hasn't sounded "good" in years. Many argue that he never did, but I think his vocal chops were pretty solid in the late 60's to up around the 80's. He started doing that weird raspy blues thing in the 90's. His latest album has touches of the younger Bob Dylan, but for the most part, it's kind of too late. I hear from a lot of folks that he doesn't care anymore, but I think if that was the case, he wouldn't even perform.