A transcript which matches
Galin's can be found
here.
A quick skim shows that the passage in question is one of the least coherent in the whole transcript, and the transcriber clearly had some trouble! I think this bit got tangled the most, and have tried to fix it up:
"I also wanted to give the Fall of Atlantis some
universal application. The point is really, I ['m using this [???]] language, as they get to the, you suddenly see the real curvature of the world going down like a bridge. You are on a line that leads to what was."
(I think he also says 'get to sail to America' earlier on, not 'to South America'.)
So: interesting! You can practically hear him skipping mental tracks when he goes from 'the world becomes a vast globe' to 'you see, it always
had been'. I think this comes from a time when Tolkien was still transitioning between the two concepts; he initially presents the old Flat-World mythology, but corrects himself mid-thought. That might even be why he gets so incoherent right here.
The whole Time thing is his attempt to retain the Straight Road, which now obviously makes no sense (because it never was a straight path). Now, Valinor is a sort of crystallised memory - a physical incarnation of an earlier point in Time, still accessible but not exactly in the Present. But also not time travel. It's all very mystical.
hS