UNDER THE COVERS: You can bet Warner...

UNDER THE COVERS: You can bet Warner Bros. Records has a little extra rooting interest in its upcoming Rod Stewart album, especially since label president Lenny Waronker took time out to co-produce one of the album’s best songs, a cover of Robbie Robertson’s “Broken Arrow.” The album, titled “Vagabond Heart,” is loaded with remakes of R&B; gems, including Marvin Gaye and Kim Weston’s “It Takes Two” (with Tina Turner handling Kim’s part), the Stylistics’ “You Are Everything” and Van Morrison’s “Have I Told You Lately That I Love You,” all produced by Stewart and Bernard Edwards. . . . Isn’t there anyone out there who’s sick of “Pretty Woman” already? Hoping to ride on the film’s box-office coattails, EMI Video is releasing “The Music Videos From Pretty Woman,” a home-video collection of clips from Roxette, Red Hot Chili Peppers, Natalie Cole and Go West. (The cassette package is cleverly plastered with photos of Julia Roberts and Richard Gere.) . . . And just who is Contraband, whose self-titled album is due April 30 from MCA/Impact Records? Call ‘em moonlighting rockers. Intended as a one-shot release, the album features L.A. Guns guitarist Tracii Guns, Michael Schenker, Vixen bassist Share Pedersen, Ratt drummer Bobby Blotzer and Shark Island vocalist Richard Black. They perform various originals, plus such covers as Mott the Hoople’s “All the Way From Memphis” and David Bowie’s “Hang On to Yourself.”