Lyric discussion by BlatentlyBooshified 

The song is about the Daleks, to the Doctor. The first verse is where they first met the doctor (Skaro, the planet which the Daleks come from), and that they were fighting them, and they are still fighting now.

I think the end bit of the chorus about leaving it burning is about the doctor not being able to kill things easily, like in the series with Christopher Eccleston and the episode 161 "Dalek", he wasn't able to kill it. The 'ship' they refer to is the TARDIS.

The next verse is the Daleks saying that Daleks and Timelords are basically the same - they are really the most dangerous life forms in the universe. They are both very knowing and very hard to defeat.

'But what I do with that flame is what separates our types' would refer to how Daleks can kill quite easily, whereas the Doctor finds this difficult, and prefers not to kill things if it's possible not to do so. This is what makes the Timelords better than the Daleks in ways, but definitly different from them.

The end part is probably that if the Doctor and Daleks were to join forces, they'd be basically invincible and could stop the fighting between them.

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