Thinking of a Dream I had

I love, love how desperate he sounds on "Don't lead me on."

This sounds like a character in the song is waiting for a train (Well, duh) and thinking about the girl that tried to yell some sense in to him. (For any reason really) And now he's thinking, at the last moment, "Shit, she was right."

My interpretation only.

This is such a low song. He's waiting for something that will never happen, she's leading him on on false pretentions. There seems to be a dark "jump the train" suicidal feel about the song. He's angry, he's dreaming but overall, he's in denial - bloody great emotional trip of a song. Otherwise - Rory's drumming is so dam good - from Surf beat to a gargantuan build-up. It sounds like he's having fun hitting the clashes in the climax of the song. And that Organ is so haunting! God Bless the Walkmen!!!

The Walkmen were influenced by Bob Dylan who like his peers and predecessors tended to use Train to symbolize lust, sexual drive, desire, love etc. You can see the symbolism.

Applied to this song, he's been waiting on the train (desire fulfillment), but the woman's probably just leading him on.

I think he's oscillating between wanting to direct all the rage and blame on the other person, and being suicidally depressed and guilty. In the end he's just reflecting on all of that while waiting at the next juncture in his life (i.e. the train), maybe just thinking how he could do it all better the next time.