suffice
to be enough. To find "what will suffice" means finding the sort of meaning that will make life bearable.
script
a written guide for dialogue or speech; a prescribed way of doing things. Here, a metaphor for talking about established conventions of poetry that poets used to be able to follow easily, and that no longer work that way.
souvenir
a keepsake, a relic of the past to be held on to for little purpose other than sentimental reasons
insatiable
impossible to satisfy
meditation
deep, introspective thought and contemplation. Here, a way to describe the care and forethought that must go into good poetry.
delicatest
most delicate; most vulnerable or intimate
metaphysician
one who studies metaphysics, in other words, those aspects of existence that go beyond and underlie the physical world. The metaphysician aims to describe things like being, knowledge, cause and effect, time and space
twanging
plucking or playing a stringed instrument
sudden rightnesses
sudden meaning and clarity. A phrase for the mental clarity that Stevens hopes modern poetry will give its readers, the sense of something being "right" in the world
wholly
entirely