I am glad you posted this, on a number of levels. It is arguably the greatest hymn written, at least in English. I know sometimes the ways in which in suggests things contrary to Catholic doctrine puts some people off. However, it should always be noted it was written from the heart and speaks to the soul. Do not Saints like St. Louis do the same when writing of Mary?
FYI - One of the first threads I posted on here in 2004 was about this very hymn.