might > could

5 To rescue her from shameful villainy.

villainy > ill-usage, indignity, insult

6 The prince and Guyon equally belive

belive > quickly; eagerly

7 Herself pursued, in hope to win thereby 8 Most goodly meed, the fairest dame alive:

meed > reward

9 But after the foul foster Timias did strive.

foster > forester Timias > "Honoured", "Esteemed" (Greek; Arthur's squire is named at last)

301.19