Lyric discussion by Ediot 

I've always believed this song was about a sexual re-awakening and hope. The writer has lost his faith in sexual intimacy as an expression of love due to his failing relationship with Katy, whom he can/will no longer satisfy. He assumes the problems are with him. Then in walks a new woman with whom the writer immediately sparks. Romance, intimacy, Biscayne Bay–she is his new drug, reminding him of what a good relationship should feel like. But now, after all those loveless years with Katy, he wonders whether his equipment (Dr. Wu) is up to the task. He sensed Katy was lonely–she lies, you can see it in her eyes. Will this new love, too, lie to save his feelings? To me, this song is a perfect expression of spiritual rejuvenation, humility and self-discovery.

Wow, what a beautiful breakdown of what's happening here. I never thought of the song this way but I think you are on the mark.

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