Always played this as || Am : G | F : E ||
However, saw a piano score for this recently which had || Am : Am/G | F7 : E7 || which does actually sound pretty good - on a piano. Strangely this same sequence played on a guitar just sounds wrong to me - especially the F7 which seems to jar. I’m guessing this is, at least partly, because I’m so used to hearing it the first way (any guitarist I know plays the Am G F E sequence) that anything else feels a bit alien. Also, because the bass notes - and particularly the G - are so dominant that they maybe imply a chord that isn’t actually there.
Ok, I know there’s always more than one way to chord a song but I’d be interested to know how others play this.
Edit - piano example (in Dm but essentially it’s the || Am : Am/G | F7 : E7 || thing transposed)...https://youtu.be/Q0XVfBjXHPw
Edit 2 - Been playing around with the || Am : Am/G | F7 : E7 || sequence a bit more and found it's all depends on which inversions are used - played as 577555 335555 131241 020130 it really doesn't sound too good. However, both x02210 302010 131211 020100 and x02210 302010 x8786x x7675x are both pretty decent.
It might look like I'm listening to you, but in my head I'm playing my guitar.