I think this is a very cool song. I always wondered about the meaning but with Dylan you never know for sure. Like the little neighbor boy at the end of this song who smiles and says "nothing is revealed"; classic Bob. My take is that its a parable about the importance of giving of yourself and the struggle Dylan has to reconcile being "good" with the temptations of the world, like the house he is led to with "4 and 20 windows, and a woman's face in every one."
