Workshop of Telescopes Lyrics

Lyric discussion by Noilen 

Cover art for Workshop of Telescopes lyrics by Blue Öyster Cult

I don't know all the exact details, but the overall message is that first, he was bound to the material world, and material success especially (symbolised by the "doctors and wives", at least that's the vibe I get from that line). After his "visit to the workshop of telescopes" he gained insight into the supernatural (probably tying into the whole Imaginos mythos). Also, some loose bits of information that I don't know how to intepret but which might be useful for someone else:

A silverfish is an insect which has compound eyes.

An undine is a water nymph.

Saturn was a Roman god of agriculture, time and change (death and rebirth, sowing and harvest). The planet Saturn is associated with law and also with a lot of mostly negative things like death, cold and sadness in astrology.

My Interpretation