Lyric discussion by CameoGreene 

I think FragileStrength is right: I think Vienna is talking about a real caravan.

In fact, I think the song is sung from the perspective of three different women, traveling together. They're approaching their destination (their caravan is "winding down to the valley of lights," which makes me think they're traveling at night and climbing down paths into the valley where the lights of the town glimmer below). One woman (I picture her as youngest of the three) is eager to get to where they're going to be reunited with her "true love." The other two women recall their "true loves," one woman regrets that she believed her man would wait for her forever, the other (I imagine her as the oldest/wisest) has enough distance from her "true love" to see that she had idealized him to the point of "beautiful fiction" and believed him to be something he wasn't.

At any rate, whatever your interpretation, the song is just beautiful. I love Vienna. :)

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