I've just had a few phone conversations on this, and I just discovered something on a comm I was browsing. 'This' being the scene after the credits. Ten years later, we see Elizabeth with her son, waiting for Will. There's the green flash, and there he is, on the Dutchman, with Elizabeth and their son waiting.
What I just read was this:
Something important I found out about Will. It is confirmed in a forum post on this site by the script-writers. When you get to the site go to the forum page, scroll down and look for the MOVIES Message Board and look for one titled "Mr. Rossio I have 3 questions on the curse" Look for responses by "Ted Elliot" and "Terry" (these two are the scriptwriters for Pirates)
"Will is cursed to do the job of ferrying souls for 10 years. When He returns to land on his one day every ten years, if he finds his true love, the curse is broken and he can leave the Dutchman and lead a normal human life on land. Since Elizabeth will be waiting on him when he returns, the curse will be broken. Jones remained cursed because when he came back ten years later, his love wasn't waiting for him and he couldn't be free from the curse. He became so hurt and angry that he cut out his heart and abandoned the soul ferrying job (which is the reason he came to look like a monster)." - taken from site, verbatim
I have to say, I like this much better than them doomed to live apart forever. As much as I love tragedy and angst, you know? :)
(and in the OUCH! department... this article)
And now, I really need to go to bed!
BTW, the soundtrack is awesome! Been listening to it tonight.