Lyrically, at least on the surface (and if there's any subtext it's not immediately apparent to me), it seems to deal with a couple of former lovers who have encountered each other again for the first time in a while. Perhaps it's Bernie, yet again, commenting on his relationship with his working partner circa 1973. Anyway.
But the singer is not exactly overjoyed with this reunion; Taupin churlishly has him asking, in a patronizing fashion:
Have you quit doing time for me
Or are you still the same spoiled child?
and
Is this the only place you thought to go
Am I the only man you ever had
Or am I just the last surviving friend that you know?
But the starry-eyed chorus completely contradicts the sour verses:
Harmony and me
We're pretty good company
Looking for an island
In our boat upon the sea
Harmony, gee I really love you
And I want to love you forever
And dream of the never, never, never leaving harmony
Fortunately, the arrangement Elton and Del Newman creates for this schizo set of words is so lush and melodic, and the Classic EJ Band harmony vocal blend so strong, that it sweetens the track and makes the lyric content palatable.
Originally planned to be a single release, there are two promo clips out there they made for this song, both featuring the Classic Band in all their 70s finery. Kind of sad in a way to watch, no matter how much they mug for the camera.
While it's not exactly a Grand Closing Statement, it makes itself felt by virtue of the arrangement, and stands as a really good finale nonetheless.