Going through Rolling Stone's top 100... I'm determined to find a winner. "Yesterday" was technically 2:03 ...
... Here I go:
Heartbreak Hotel was 2:08:
http://youtu.be/PotB76gi2_4 ...
Long Tall Sally was 2:10:
Papa's Got a Brand New Bag was 2:07:
"Norweigian Wood" was 2:05:
"Blitzkrieg Bop" is 2:12:
"Good Golly Miss Molly is 2:04:
WINNER: Eddie Cochran - Summertime Blues 1:53:
#74 Greatest song of all time... #1 song under 2 minutes.
... It also looks like the studio version of "Great Balls of Fire" was under 2 minutes, but that was #96 on Rolling Stone's list... so perhaps it's runner up: