John has stated that this entire song would be a joke if not for this line, as it takes him back to the point in his life discussed and so retains the theme of John trying to preserve who he once was, and remain an independent soul not bowing to society’s restrictions

1., 2.
Love is an unattainable ideal to him, so again he down plays its influence by calling it “nothing”, to only then say it is a “dream” that keeps waking him. – another complete contradiction (it could also sound like he may also be in denial of being in love or admitting that it is love – maybe because of past experiences or skepticism?)

Mayer starts the song by profoundly admitting the way in which he defines himself: “Young and full of running.” The first piece of his character his designation as “Young” is reminiscent of his 2006 tune “Stop This Train”, in which Mayer sings:
“So scared of getting older
I’m only good at being young
So I play the numbers game
To find a way to say that life has just begun”

His fear of growing older and battle with time passing has extended three years later, where Mayer is still “playing the numbers game” to defend his unsustainable way of life to both himself and the public eye. Here, though, Mayer completes his self definition by admitting that he is “Full of running.” He is more actively trying to escape the societal pressures. Similarly calling back to 2006’s “Continuum,” Mayer sings in “Vultures”:
“So I keep on running to protect my situation”

just my thoughts, but…

1. When we are young we tend to run into everything head first because we have the energy and resilience to do so
   (Young full of running [full of energy/life])

2. as we get older we start doing some introspective soul searching.
   (Tell me where has that taken me [he asks this of himself, doing some self analysis]).

3. He has clearly been in this position before, hence the familiarity of it all, he also seems to be attempting to take responsibility of his actions up to this point, while he also acknowledges the complete irrationality that he is dealing with, by admitting that he sees it as “just a ‘GREAT’ figure eight, or a ‘TINY’ infinity” a complete contradiction, especially when you consider that infinity means timeless, so by calling it a Tiny infinity, I almost feel like he is trying to down play the impact or influence that it has, but only by lying to himself. (Just a great figure eight, or a tiny infinity)

This is also a reference to Half of My Heart. “I was born in the arms of imaginary friends”

Good point but what does that mean? Unlike the above quotation, John is leaning the other way. He points out it is a feeling melancholy and woe, rather than a happy one.