Lyric discussion by fatpom 

Cover art for Cold Piece lyrics by Jerry Cantrell

This song IMO is obviously about Layne Staley. Its first sung from Jerry's perspective about Layne, then sung as if by Layne.

Layne of course had become a complete recluse with his crippling addictions and a rift had developed between the two because of it. This song is Jerry justifying to himself the fact that he wasn't there to help his former friend.

So Jerry is saying, yes I would like to be there to help him, but he doesn't want my help. (Give up, go 'way I'm not yours to save) Its painful to see the damaged goods he has become, (Now you hear that there's something wrong Though it's sad, he lives his song) but I'm not a saint, there is nothing I can do, (You have no halo Don't spend your time sniffin' round dead shadows)

@fatpom I agree, the fact that this is the last song on the album implies that he left what's most important for last. Also the way he sings the chorus, the lines that would be Stanley's sound a bit like his singing voice.

@fatpom definitely fits that situation perfectly in my opinion too ...