Elvis Costello recalls his first face-to-face encounter with Bob Dylan

Elvis Costello takes a crack at "I Threw It All Away" after an entertaining tale about meeting Bob Dylan for the first time in 1978. 

Elvis Costello takes the Colbert Questionert

Elvis Costello has Gregory Peck's signature in his autograph book. For an encore, he sings Bob Dylan's "I Threw It All Away."