Chrissie Hynde claims that she wrote this song for/and about a lonely fan, but I think she's fibbing; she wrote this for Ray Davies of The Kinks. Whatever, it's beautiful song and I'm glad that she gets credit for songwriting. I never saw the original Pretenders before half of them died, but I did see the second incarnation, The Pretenders, and the treat was that she was playing her hometown of Akron, Ohio. Some co-workers and I drove over from Cleveland to see them in 1984. To me, the song is about letting go of a special someone you can't have today, but maybe tomorrow or someday.
Added: The electric version with the original band members from the good old MTV days: