Lyric discussion by ClassicRockBaby 

Cover art for Love lyrics by Def Leppard

Okay, I was really obsessing over this song when I posted that comment, but that was because I was in a situation almost perfectly described by this song.

Anyhow, the lyrics are pretty obvious. But they could be referring to a person as "love" since love is a term of endearment (like Honey, Dear, Sweetheart, etc.). Or it could be refering to love as the abstract noun it is, which would make more sense, since they're making it seem immortal by saying "You never loose, you never fail. You always live to tell the tale".

I feel that had Sparkle Lounge been more popular, this would have been a much more popular song.