On lines 560-64, Stuart Peterfreund claims
[t]he speaker would have Emily be what Shelley, in A Defence, characterizes as that which "creates for us a being within our being" [...]; what he, in "On Love," characterizes as that "something within the soul" able to awaken the spirits to a dance of breathless rapture, and bring tears of mysterious tenderness to the eyes [...]. And the speaker would be these things for Emily as well. The transfiguration that he envisions is no less than the ensoulment that occurs when primal, loving, poetic speech creates thought, which then becomes the measure of the universe. But the speaker is unable to carry off the transfiguration he proposes. As his comments on the world 'ere crime / Had been invented' suggest, too many falls have occurred in the intervening ages to make the transfiguration a possibility. (282)
This interesting take on the role of thought in the poem seems to contradict Pinch's thoughts on the subject. Consider each of the two links that will take you to Pinch's discussion on two particular passages from Epipsychidion. Pinch's feminist reading of the poem is that the act of thinking of about the other does violence to her. The paradox, that the transfigurative love creates tyrannical ideas that stem from it, seems to have something to do with what Nietzsche would say about the Apollonian-Dionysian dynamic as well as what he says in "On Truth and Lie in an Extra-Moral Sense."
Peterfreund, Stuart. Shelley Among Others : The Play of the Intertext and the Idea of Language. Baltimore: Johns Hopkins UP, 2002.