The Moody Blues' "Legend of a Mind"

Two months ago, I listened to the Moody Blues' In Search of the Lost Chord and started wondering about one of the musical phrases in "Legend of a Mind."  I'd thought that the "Timothy Leary"s at the ends of the verses had a melody that was similar to that of the "Pictures of Lily" in the Who's "Pictures of Lily."  Both lyrical phrases are five syllables, and both musical phrases are composed of only two notes, but that's where the similarities end.  There's no real resemblance between them.

However, I recently looked into "Legend of a Mind," and I found some other interesting things:

I'm fairly certain that the second (and also the third) verse contains the lines "Takes you trips ‘round the bay / Brings you back the same day" (I might be wrong in my transcription).  There's parallelism between "Takes you trips" and "Brings you back."  Both are alliterative, and the word order is similar ("Takes you trips" / "Brings you back" - [verb][direct object][word that alliterates the verb]).

More interesting, though, is the section half-way through, where the length of the lines increases:

Along the coast, you’ll hear the most about a light they say that shines so clear
So raise your glass, we’ll drink a toast to the little man who sells you thrills along the pier
He’ll take you up, he’ll bring you down, he’ll plant your feet back firmly on the ground
He flies so high, he swoops so low, he knows exactly which way he’s gonna go

The rhyme scheme here is the interesting thing.  The first two couplets rhyme with each other ("clear"/"pier"), but the last two couplets seem like they're each two couplets re-arranged into a single line.  So they could be re-rendered as

He’ll take you up, he’ll bring you down
He’ll plant your feet back firmly on the ground
He flies so high, he swoops so low
He knows exactly which way he’s gonna go

Later in the song, they do appear almost in that form:

He’ll take you up, he’ll bring you down
He’ll plant your feet back on the ground
He’ll fly so high, he’ll swoop so low
Timothy Leary

But in that lengthened verse, the internal rhyme is key.  "Coast," "most," and "toast" are irrelevant to the rhyming of the first two couplets, but they act as an indication of what the rhyme scheme will become.  The words that are in the same position in the line as "most" and "toast" (the words that the eighth syllable falls on: "down" and "low") will become important in that new rhyme scheme:

Along the coast, you’ll hear the most about a light they say that shines so clear
So raise your glass, we’ll drink a toast to the little man who sells you thrills along the pier
He’ll take you up, he’ll bring you down, he’ll plant your feet back firmly on the ground
He flies so high, he swoops so low, he knows exactly which way he’s gonna go

That internal rhyme acts as a sort of structural foreshadowing.