Lyric discussion by TheUniversalSigh 

Reminiscing the fun they used to have with pink floyd before and just after DSOTM, but when their desire for succes finally helped them 'reach the dizzy heights of that dreamed of world' (meaning succes), their life soon became 'consumed by slow decay'. So they think back to the time before, when everything was still fun.

Also it could just be reminiscing youth in general, and how the desire to grow up made you forget how much fun you were having when you weren't.

@TheUniversalSigh Nicely put!

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