Lyric discussion by i2hymnocerous 

Cover art for Paul lyrics by Smoking Popes

I think this song is from the perspective of Paul; first person. To me, Paul is telling the story of how he loves this woman. He has been building their relationship and finally wants to express his true feelings to this woman. He wants her to accept his love right away. However, he cannot work up the courage to tell her how he feels so he dreams of her. He then realizes how he does not have her, but dreams that one day she will come around, expressing her love to him.

The second stanza says that he has put everything on this woman accepting his love. If she doesn't accept it, he will simply give up with love. He seems to feel that he should know if she is the one for him.

The final stanza deals with Paul never working up the courage to express his feelings to the woman. He has realized that he simply kept dreaming of her, not pursuing his love. Ultimately, he is broken hearted, but still holds a love for this woman.