The Kinks' "A Rock 'N' Roll Fantasy"

Yester-day I listened to Come Dancing with the Kinks: The Best of the Kinks 1977-1986 and noticed the line "The King is dead; rock is done" in "A Rock 'N' Roll Fantasy."  I thought that this probably referred to Elvis (since he died in 1977, and the album is subtitled 1977-1986), but I wanted to do some research before writing about it.

According to the Wikipedia page, "A Rock 'N' Roll Fantasy" is from 1978.  An equally-dubious site is referenced claiming that the line is indeed about Elvis.  Normally, I wouldn't put that much faith in the accuracy of such sites, but it does confirm what I'd already been thinking.