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Maroon 5 – She Will Be Loved Lyrics 15 years ago
I agree with most of your interpretation, but I think she uses him for sex as well when she needs comforting. And she's probably aware of how he feels, she just doesn't feel the same way. She cares about him, but she falls in love with other guys, not him.

Also I think this line means something entirely different:

"It’s not always rainbows and butterflies
It’s compromise that moves us along"

I think he's saying that just because she doesn't feel the butterflies for him doesn't mean their relationship couldn't be great. He wants her to compromise and settle for him because he'll treat her better than her other boyfriends have.

If anyone here has seen Six Feet Under, I think the relationship between Nate and Lisa back in Seattle is a perfect example of what this song is talking about. It's sung from Lisa's perspective, about Nate.

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Maroon 5 – She Will Be Loved Lyrics 15 years ago
Maybe. I still think she's using him for sex though, whenever she's on the rebound. These lines imply that to me:

"I’ve had you so many times but somehow I want more"

"Ask her if she wants to stay awhile"

"Comes back and begs me to catch her every time she falls"

I think she thinks of him as a friend with benefits, while he truly loves her. And I agree that this is going nowhere good for him. Even if she finally settled for him, she'd probably never feel the way about him that he feels for her.

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Maroon 5 – She Will Be Loved Lyrics 15 years ago
To me it's always seemed really obvious what the song is talking about, and none of the other comments have close to my interpretation, so here it is.

It's about a "nice guy" that is in a friends with benefits type situation. He's in love with the girl, but she doesn't love him, at least not in the same way. He's always been there for her when things go badly for her, but she's always going for other guys and then coming back to him when she's upset that things didn't work out.

To her he's the rebound guy that'll always be there for him, and that's it.

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