I've agreed with (and really enjoyed) all your reviews to date but not this one!
There was actually plenty of talk of the Bolan connection at the time, although perhaps more T-Rex than Bolan. Several reviewers pointed out the similarity with Ride a White Swan - I hadn't heard of the song before this but the Certain People riff is so similar, it's almost a sample.
Anyway, a great song. Bright, breezy and tuneful. Love the final section with the multiple backing-vocal harmonies and Morrissey's oh-oh-woah-woas!
Yes, the song should have been the first single - would have gone much higher and might well have stopped the album from being a commercial flop. Despite much greater critical acclaim, Your Arsenal's still sold fewer copies than Kill Uncle in the UK and, along with Maladjusted, remains his only 20th century solo album not to at least go 'silver'.
Seem to recall Radio 1 playing it at the time (Simon Bates!) but, yes, the third single from an album is never going to do very well. Also recall a concert review at the time saying that Certain People had shed its 'coy Knopflerisms'!