If we read this week's passage from Song of Solomon as praise for a bridegroom, we can also think of Psalm 45 as also describing one who is loved and is honored.
But, the praise is not restricted to one woman's new husband. We can read Psalm 45 as extending to the king--who, might be thought of in ancient times as assuming the responsibility of care and protection to his people, like a husband, say.
Somewhat troubling is the NRSV translation of verse 6 that addresses the king as elohim. According to John H. Hayes in Preaching through the Christian Year B, most English translations had put this reading in a footnote or margin.
I suppose Christians can overcome any problem with this verse by thinking that the ancient psalmist was anticipating the birth of Christ the King.
In any case, the king is this psalm has important characteristics that all persons in power should attempt to emulate: love of righteousness and hatred of wickedness.