let me see your beauty broken down,
like you would do
for one you love
I think these lines relate to vulnerability and LC is asking his lover to allow him see her at her worst. These lines do not solely relate to physical nakedness but have a spiritual meaning also.
I'm not much for strict analysis, either (except as a fun, academic exercise) -- typically what is important in my book is the emotions that a song stirs in me, personally.
I do think, however, that the conditional tense in the line "*like* you *would do* for one you love" is important -- I've always thought that he was saying that her nakedness, her undone gown, how near she sleeps to him, etc. are all poor substitutes for love. He can have the sex, the nudity, the rest of it, her "charity" but she won't break her beauty down for him -- that is reserved for love, which he does not have from her.
I've always heard rein, rather than rain -- and sandle strap -- for what it's worth....
And I think 'hungry as an archway through which the troops have passed" is one of the best lines ever written anywhere.
Now that my ladder's gone
I must lie down where all the ladders start
In the foul rag and bone shop of the heart