So now I guess this where we have to stand. Did you regret ever holding my hand? Never again. Please don’t forget, don’t forget

We had it all. We were just about to fall even more in love than we were before. I won’t forget. I won’t forget about us. 

But somewhere we went wrong. We were once so strong. Our love is like a song, you can’t forget it.

I think Nick saying this is his favorite song says a lot about where they are in their relationship; Neither of them are really talking to the other and the place they left off at could have started something really good between them and now he just wants to go back to that.