Lyric discussion by fiver 

actually, this song makes quite a bit of sense... you guys are correct, except... the queen of light is galadriel. "queen of light took her bow, then she turned to go" passing the last test of the ring, galadriel knows that now that she hasnt taken the ring for her own power, all elves' time in numenor is coming to and end and the last stronghold of elves in middle-earth, lothlorien, must decay and move back to the gray havens (not a bad place to live;]) ... anyway, arwen is a princess if anything, being the daughter of elrond. her part in the movie was augmented greatly. but damn liv tyler was hot in the part... phew... shrug

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