As far as setting it to music well...it's an intriguing idea. One idea that comes immediatly to mind would be an interweaving of the poem with something else; perhaps an interpretation of the poem. Maybe tones a la Sheila Chandra, but I have no training and not much familiarity with the Karnatic or Hindustani traditions.
It would be nice to have accompaniement (sp?) and so maybe a simple drone on a harmonium or concertina. Or maybe just one "hollow" chord on a guitar or even a single string.
Minimalist seems to be the way to go on this.
Is this a tolerable path or am I completely from Mars?