Explanation:
He is saying "compared to this love we share". The whole poem is centered around the supremacy of their love above all else. In the preceding line, he states that she is all states and he is all princes, and that nothing else is. Compared to their divine and regal love, princes are only imitating their greatness with their meager possessions.
That depends on what kind of essay we are talking about. If you are talking about a persuasive essay, then use different appeals and techniques, like ethos, logos,pathos, facts and figures, or testimonial. If we're talking about a narrative essay, then use plenty of imagery and sensory details, plus make sure to have plenty of characterization for your dynamic characters.
All of it or just a specific part