The story of Faust was written by Goethe in the 1800s. It was a legend about a doctor who found no satisfaction in life. He made a deal with devil that if the devil (Mephistophes) could entice him to want any particular moment to linger, he would forfeit his soul. Your question is about when that moment came.

yes, you have it right.

They both mean the same thing, but obviously the second is in Shakespearean English. It means he/she wants them to stay because they are so beautiful/handsome. Hope that helps!