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The Cure – The Same Deep Water as You Lyrics 16 years ago
I agree that the beloved is already gone, but I think that the lover is hallucinant and schizophrenic; a result of the trauma brought on by her death. Throughout the song you hear her speaking, but it comes from his head, rather than her spirit. And the entire second stanza is the scene of a hallucination. The reflections meet and the twist on her lips disappear as "the ripples clear" and break the image (mirror), perhaps as the lover comes out of the hallucination. Towards the end the lover commits suicide, still plagued by her death and unable to stand the hallucinations any longer. As he's dying, he finally hallucinates seeing her smile. In the middle of the verse he mentions that he doesn't see, yet her smile is in his eyes, further suggesting that it's all a hallucination.

Alternatively, there could be a different ending to the song. Taking the use of "sleep" literally, one can assume that this all happens before he goes into a deep sleep, perhaps engulfed in a hallucination. Maybe "the very last thing before I go" referring to before he goes to sleep, rather than before he dies. Furthermore, when he says, "I will kiss you forever on nights like this", he means he will kiss her forever when he is in this hallucinogenic state, in which they can be together because it's all in his head.

submissions
The Cure – The Same Deep Water as You Lyrics 16 years ago
I agree that the beloved is already gone, but I think that the lover is hallucinant and schizophrenic; a result of the trauma brought on by her death. Throughout the song you hear her speaking, but it comes from his head, rather than her spirit. And the entire second stanza is the scene of a hallucination. The reflections meet and the twist on her lips disappear as "the ripples clear" and break the image (mirror), perhaps as the lover comes out of the hallucination. Towards the end the lover commits suicide, still plagued by her death and unable to stand the hallucinations any longer. As he's dying, he finally hallucinates seeing her smile. In the middle of the verse he mentions that he doesn't see, yet her smile is in his eyes, further suggesting that it's all a hallucination.

Alternatively, there could be a different ending to the song. Taking the use of "sleep" literally, one can assume that this all happens before he goes into a deep sleep, perhaps engulfed in a hallucination. Maybe "the very last thing before I go" referring to before he goes to sleep, rather than before he dies. Furthermore, when he says, "I will kiss you forever on nights like this", he means he will kiss her forever when he is in this hallucinogenic state, in which they can be together because it's all in his head.

Just thought I'd throw that out there. I could be completely off base though.

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