I've always liked it best without the third verse about "the people etc", and with "my dead love came in" for the last verse. The third verse is great, but it slows things down. I think it's more powerful with the story pared-down to just sufficient to tell it all, no spare flesh on the bones. That's how Margaret Barry sang it, and it's from her singing that the song won its present wide provenance, I think.

And the last line about "It will not be long love till our wedding day" - surely that's her reassuring him that they won't be parted long, because he'll be dying soon, and that'll be their waedding-day. So it's a happy ending.