Lord of the Rings-What does she say?

In the first of the trilogy, when just after Frodo looks into the pool of water to see a possible future, he offers the ring to the character played by Cate Blanchett (Galadriel). She goes into this almost black and white glowing image and turns it down. I have played it on the DVD back and forth like 50 times and I still can't tell what she said. Ten points to anyone who knows. Thanks.

She says:
"You offer it to me freely. I do not deny that my heart has greatly desired this."
Then she turns glowing and says:
"In place of a Dark Lord, you would have a queen! Not dark, but beautiful and terrible as the dawn! Treacherous as the sea! Stronger than the foundations of the earth! All shall love me, and despair!"
Then she goes back to normal and says:
"I pass the test! I will diminish, and go into the West, and remain Galadriel."

Yes, I am a dork.

"In place of a Dark Lord you would have a queen...not dark but beautiful, and terrible as the dawn! Treacherous as the sea! Stronger than the foundations of the earth! All shall love me...and despair."

You offer it to me freely...I do not deny that my heart has greatly desired this
In place of the Dark Lord, you would have a Queen, not dark, but beautiful and terrible as the Dawn. Treacherous as the Sea! Stronger than the foundations of the earth...all shall love me and despair!

"You offer it to me freely. I do not deny that my heart has greatly desired this."
"In place of a Dark Lord, you would have a queen! Not dark, but beautiful and terrible as the dawn! Treacherous as the sea! Stronger than the foundations of the earth! All shall love me, and despair!"