Modern English translation of Shakespeare's "Full Fathom Five"?

Question

How could I "translate" Shakespeare's "Full Fathom Five" into modern English:

Full fathom five thy father lies;
Of his bones are coral made;
Those are pearls that were his eyes;
Nothing of him that does fade,
But doth suffer a sea-change
Into something rich and strange.
Sea-nymphs hourly ring his knell:
Ding-dong,
Hark! Now I hear them – Ding-dong, bell.

Answer 1

Look there:

http://nfs.sparknotes.com/tempest/

Answer 2

Just a "translation":

Your dead father is 30 feet down in the sea.
His bones are becoming part of a coral reef
In the eyesockets, there are now pearls
His body is not rotting but being changed
By the sea into something strangely beautiful
Sea-nymphs are proclaiming to all
That he is dead, and for him
They ring a bell each hour.

Rewritten by me in "modern" English
(and with apologies to Will)

Beneath the waves, ten meters down,
Your father's bones make coral reef;
Where once were eyes that never frowned
Now pearls has Neptune placed in grief.
His body there is not decayed
But soon will richly be displayed
While sea-nymphs mourn with ringing bell
Listen! Hear them! Listen well!

jlm jarhead7053 11/7/2007

Answer 3

your father's remains at sea aren't gone
coral are made of his bones
the glittering pearls were once his eyes
no part of hi remains has vanished
he has simply been transformed by the sea
into something pretty and enigmatic.
the sea nymphs often toll the bell for his spirit
ding-dong
listen!I can hear them now - ding-dong, the bell tolls.

ok