"Or your own honour to contain the ring."
It might be better, with Pope, to read retain. (See on Two Gent. v. 4, ad fin.)
"In summer where the ways are fair enough."
The usual confusion of where and when.
"Well while I live," etc.
A waggish allusion to a story told by Poggio, Ariosto, Rabelais, La Fontaine, and Prior. Our poet probably got it from Rabelais, with whom he was familiar.