FF8 Riddles

[Rantz]

Actually he says the first line to Ellone when she's there. That fact is important to the riddle.

mobiletype, I gathered all hints that I didn't bother gathering before:

The riddle:
"Lo and behold",
Ol' Laguna says to Ellone.

"If I were you,
I'd give in for my age
in a previous world,
without Elle."

Wrong guesses:
Raine
Squall
Edea
Dr. Odine
Time compression
Laguna card
Laguna's love for Ellone
The space station
Outer heaven
Junction machine Ellone
The player
Youth
Laguna deciding not to go looking for Ellone
Ultimecia's castle
Timber
White SeeD ship
"Loire"
The opening movie sequence
Iguion
Ellone's birth
Laguna's first sight of Ellone
Laguna's last sight of Ellone
A gun
Lol (lol)

Hints:
The answer is not a person.
A part of the riddle (not the answer) is a teeny bit related to time, but not in an obvious way.
The first part is a clue to find the answer, but you have to figure the first part out by figuring the second part out, which is referring to the first part.
Look for connections in the riddle.
The answer is not an obtainable item.
Question the riddle.
Think about every separate word, even some common words. Most of them are chosen for a reason.
Wikipedia, dictionary.com etc. wont help you much (if any) with this one riddle.
Do not try to find the answer in the riddle, in fact, forget about looking for the answer and try to figure out what's up with the riddle.
Word play
The second part is directed at the riddle solver.
The answer is not abstract (events, feelings etc.).
The two first lines are the last key to find the answer but for that to happen you must figure out the "secret" of the second part. It will lead you to the first part which, with the key found in the second part, gives you a good clue on how to find out the answer.
The second part is instructions for the first part.
The lines "in a previous world without Elle" have been figured out to mean simply "in a previous word" which refers to a specific word in one of the first two lines.
"If I were you" does not mean "If 'I' was 'U'".
"Age" relates to the fact that in the second line Laguna is "Ol'".
The first line, "Lo and behold" is very significant.
"Give in" does not mean the same as "give up" in this case.
"Lo and behold" is the strongest link to the answer and hence something you'll have to figure out later on.
"Give in for my age" is more word play.
The riddle contains no anagrams.
Question: When you give in for your age do you replace a word with the word in? - Answer: Almost, but not really.
Note the implication of Laguna's old age.
"Lo and behold" does not relate to the phrase "Low and be old".
There is something in the last two lines (especially the last) that you might not have thought of.
Laguna says the first line to Ellone when she's there. That fact is important to the riddle.
"In a previous world" is not to be replaced.