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Oct 10th 2013!⃝Well, actually, I look at it in a different way. You have to remember in the movie the character singing this is a street performer, and this girl is helping him produce a record. Before this song, he isn't sure if he is going to go through with it. The way I see it is, the character is singing to himself, saying-
I don't know you- I don't know the successful me
But I want you- But I want the successful me
All the more for that- Self explaintory
Words fall through me\/
And always fool me\/
And I can't react- His songs fall through him, but he doesn't know what to do with them
And games that never amount\/
To more than they're meant\/
Will play themselves out- These games in his head against himself don't amount to anything
Take this sinking boat and point it home\/
We've still got time-I can still take me, and point me in the right direction
Raise your hopeful voice you have a choice\/
You'll make it now- Will I do this?
Falling slowly, eyes that know me- I know myself
And I can't go back- I can't change my mind if I do this
Moods that take me and erase me- I get moody on teh streets
And I'm painted black- I get depressed
You have suffered enough\/
And warred with yourself\/
It's time that you won- I think in this verse he is making the decision to go through with this.
Take this sinking boat and point it home\/
We've still got time-I can still take me, and point me in the right direction
Raise your hopeful voice you have a choice\/
You've made it now- He has made his choice
Falling slowly sing your melody
I'll sing it too- He will do it
Basically it boils down to him arguing with himself and deciding whether to do the record, and half way through he decides yes, I will.