Lyric discussion by Publius 

Cover art for Lucinda lyrics by Tom Waits

I've just got what this song means. It's a rough recasting of The Tragical History of Dr. Faustus; German folklore and also a play by Christopher Marlowe. I won't go into every detail, but take what that other guy said about Lucifer = Lucinda and it all makes sense - the narrator of the song devotes himself to this Lucinda character, does a lot of crazy stuff in his life but ultimately will never see heaven nor home, just as Faustus sold his soul to the devil.