Craig,
First, the song is really solid as are the vocals. The arrangement is very 80's Power Ballad as far as the guitar style. Personally, I would go for a Contemporary Country Ballad with this song. Simple strumming acoustic guitar, bass, drums, maybe a fiddle or strings. If you are leaning more pop, use an acoustic piano arrangement with strings and some light percussion/drums. Either of these choices would get you in a more contemporary lane.
The vocals you have here would work for either style, in fact I think your existing vocals could be integrated into a new backing track if you don't change the tempo, and, I think the tempo is good as is. Lot of potential with the song.
Regards