#JavaScript 259 240 238 bytes
JavaScript 259 240 238 bytes
Not that good but might as well post an answer.
b=String.prototype,b.a=b.replace,alert("123. Yes, 16537All you other 23s are just imitating7So, won't 6523 p4?\nP4. P4.".a(/1/g,"I'm ").a(/2/g,"Slim ").a(/3/g,"Shady").a(/4/g,"lease stand up").a(/5/g,"real ").a(/6/g,"the ").a(/7/g,".\n"))
More readable version :
b=String.prototype
b.a=b.replace
alert("123. Yes, 16537All you other 23s are just imitating7So, won't 6523 p4?\nP4. P4."
.a(/1/g,"I'm ")
.a(/2/g,"Slim ")
.a(/3/g,"Shady")
.a(/4/g,"lease stand up")
.a(/5/g,"real ")
.a(/6/g,"the ")
.a(/7/g,".\n")
)