It's "I will waste another dream ON you", not of you. Makes far more sense. Obviously she can't be with this person, not fully, and yes I get the impression it's 'cause they're in a relationship...but she's still holding out for them, even though she knows it's a waste of time, and a waste of a dream, she can't help herself because "I will take the long road, but it leads right back to you." No matter what she does, she can't help but wait for this person. Beautiful song, if very sad.
It's "I will waste another dream ON you", not of you. Makes far more sense. Obviously she can't be with this person, not fully, and yes I get the impression it's 'cause they're in a relationship...but she's still holding out for them, even though she knows it's a waste of time, and a waste of a dream, she can't help herself because "I will take the long road, but it leads right back to you." No matter what she does, she can't help but wait for this person. Beautiful song, if very sad.