"the song is about a man trying to get a woman-Eileen-to sleep with him. I guess that's what it's about. I hope they ended up getting married afterwards."

You've just described 3/4 of the folk canon - ESPECIALLY if the bloke doesn't stick around.

If you'd lived in the UK for the past couple of decades and attended enough weddings, I can promise you that you'd be well over that song - and the ridiculous, drunken attempts at jigging which inevitably accompany it.