Ahahahah, pwnd by Waz. That's awesome.
The song seems basically about a psychotic, thoughts of rape/sex and murder intertwining and racing around his head. Lots of dark and morbid imagery. Personally, i would not look too closely in hope of finding a story in the lyrics, because i do not think there is one. The lyrics are there to convey a sense, a feeling, a mood. Sure, they connect with each other, but only as a series of related statements.
Oh, and "come erotic communion in its splendour" is one of those annoying lines that in proper english would be the first part of a sentence, but does make some sense if you bend english a bit. 'Erotic communion' is sex (nice word choice, used to imply that this guy reveres sex, considering it a form of sacrament), and after it has happened (it has 'come'...the 'in its splendour' just means that he thinks of it as splendid) he is in a state of rest ("saving strength now"), talking in hushed tones ("faint whispers"). Again, interpreting this line does not reveal any hidden story to you...it just helps to show how conjoined in his head sex and murder/death are, as in many psychotics heads they are.