GUEST,# evidently disapproved of the song
title,
   "I Feel Good"   James Brown

Those three title words, #, may possibly mean a few
different things, i.e.
   I feel virtuous,
         or
   My sensory or emotional state is pleasant.

       But if the speaker says "I feel well", then
       that will probably mean
   I feel healthy
       or
   I don't feel ill.
         or
   I have an effective sense of touch   
         or
   I make effective use of my sense of touch.

I don't know the particular James Brown song, but I assume
that the title means the speaker is pleased with himself
or his situation. "Well" is not really called for. So
"I Feel Good" is just fine.

   Dave Oesterreich