According to official commentary the long black Cadillac is a Hearse: youtu.be/...koRZ0 However, intended or not, a long Black Cadillac could also be a limousine, an icon of great success. So there is quite allot of duality in the song. The meaning renains the same: that life is filled with rolls of the dice and choices. Live it to the best as you never are sure the next day could bring great success or your end.
