Last time we covered the first side of the 1972 album. The link in that piece goes to the history of the record and has a link to the wonderful album cover and you should look at that if you have not already.
Since this is one long (21:06 minutes) song, we shall do like we did the last time and break it into chunks. Just hit the pause button after each chunk and we shall discuss. For your convenience I have also posted the entire lyrics before the embed. Here we go!