Please explain and paraphrase "On The Life of Man," by Sir Walter Raleigh.

Here's the poem, in the original with, I believe, the
original title, with notes and source
included:

On the Life of
Man          
Sir Walter Ralegh

What is our
life? a play of passion,
Our mirth the musicke of division,
Our
mothers wombes the tyring houses be,
When we are drest for this short Comedy,

Heaven the Judicious sharpe spector is,                  5
That
sits and markes still who doth act amisse,
Our graves that hide us from the
searching Sun,
Are like drawne curtaynes when the play is done,

Thus march we playing to our latest rest,
Onely we dye in earnest,
that's no Jest.  

[AJ Notes:

musicke of
division,, the entr'acte, the music that marked
            the division
between acts.
tyring houses, on the Elizabethan stage, the 'tiring
house',
            from "attiring house" was the room where the
actors
            got dressed before a performance.
spector,
spectator, with a play on 'spectre'.
still, always, ever.
latest,
last.]

Source:
The Anchor Anthology of
Sixteenth-Century Verse.
Richard S. Sylvester, Ed.
Garden City, NY:
Anchor Press, 1974. 341.

The poem compares life to
participating in a play.  In short, the speaker writes
that:

• our life=a play that's
  passionate


• our laughter=the music played between acts of
  a play


• our mother's wombs=the place where we get dressed
  to prepare for the short life that is a comedy


• heaven=a
  sharp audience that corrects us when we behave
  badly


• graves=that which hides us from the heat of the sun
  (life's difficulties?), and is like the drawing of a curtain when a play is
  over


• this is how we march toward our death, and death is
  serious, not funny

Thus, life is a comedy, to
the speaker, but death is not. I'll leave it to you to draw the meanings from the
metaphors.