Well, this is an interpretation thread so there are millions of possibilities of what the song is about. I just think there are a lot of physical aspects in the song, describing concrete things

Moonlight on the soft brown earth
It leads me to where you lay

I will stay forever here with you, my love

But no bonds can hold me from your side

These seem actual happenings, not just yearning for a memory and suggest actions instead of just thoughts. The song is also interesting when you look at how everything is strictly from her point of view. She says

They don't know you can't leave me
They don't hear you singing to me

saying he can't leave her and not that she can't leave him, which would seem more obvious if she was only missing a lost love. Also she refers a lot to "them" and "others", people who have opinions, negative obviously about her and her actions and how she truly believes they don't understand but at the same time the lyrics clearly indicate others think she's insane. That indication could have been dropped if the song was meant to be only about the same sort of spiritual missing MI is about. She only talks about herself. She says I will stay here forever, she urges him to give her a reason he's really gone but since he's dead he can give no such reason and she convinces herself that he still lingers with her.

And when it comes to the I'm taking you home part, I don't see how that could be explained other than as an physical act. Nobody could stop her thinking about him and keeping his memory in her mind. There'd be no reason to take him home then.