I recall both Lynch and Strobel have said it's "chants"

If it's "chants," then what was chanted?

Chance just makes more sense.  You guys have written interviews where David says it's "chants?"

I think it's "Chants out..."

One chants out...between two worlds...'Fire Walk With Me'...

 I've always thought it was "chants out"..."between two worlds" cause it made sense to my opinion that Mike and Bob are just states of mind, illustrating the good/evil duality of man.

Could be wrong though - better take some chemicals to avoid boinking!

One is chanting "fire walk with me" either to get out of "the between" of two worlds or in between of two worlds. That space between those two worlds might be the Red Room.

http://twinpeaks.org/faqeps.htm#e25

Whenever I've got a common question about Twin Peaks, I check out twinpeaks.org.  It's a HUGE resouce of information, and most of it was compiled doon after the series, so time and faded memories dont' factor into play. :)

The faq mentions the shooting script for Episode 2 as just about the only written source for the word being "chance." All other souces point to chants.  The funny part is that I'm not sure why the shooting script for episode 2 would have the poem in it.  They had already filmed the footage back when they did the pilot.  It could just have been a transposition error.  Plus, I'm not sure how legit the shooting script that the person found is.

So basically, 90% of signs point to chants. The intereview with Al Strobel is even mentioned in that link that I posted for twinpeaks.org above.

I believe that you chant "Fire Walk With Me" to get in or out between worlds. There's that scene in the original movie script where both BOB and the MFAP say it, then flames appear around the room, and BOB and the One Armed Man both go through the flames to the red room....

There's also a theory that the place where Cooper sits with the midget is a sort of " middle room" between the white and black lodges and that it is not actually the Black Lodge, but when Coop leaves and sees Maddy, that is the Black Lodge. What I'm getting at is that the midget says "Fire, walk with me" and then flames rise up, maybe that's when Cooper is in the black lodge. Who knows? 

I think it is "one chants out between two worlds...fire walk with me"

The spoken words "fire walk with me" are the special invitation the spirits need to cross from one world to the other.I think  these spirits are given the oppurtunity to leave the Black Lodge and enter our world through this chant.

Yes, I also think what Major says. BOB comes in when the coffe turns to oil. The MFAP says "Wow Bob Wow" and flames appear. Then the lights flicker. I think that this is when Cooper leaves the waiting room and goes to the Black Lodge, although he needs to go to the other room to completely enter it (or something... notice that aside from Maddy, he only sees doppelgangers, BOB, Annie, and Windom Earle from this point onward, all of whom would be in the Black Lodge).  

There's also a theory that the place where Cooper sits with the midget is a sort of " middle room" between the white and black lodges and that it is not actually the Black Lodge

would you really call it a theory? With a line like "THIS IS THE WAITING ROOM", I think it is kind of beyond the realm of theory

His theory is that the red room is not only a middle room, but that at some point it is also the black lodge....

Yes,and "fire walk with me" is the chant,the link one needs to cross from one world to the other.And just like BOB needs this invitation "FWWM" to leave the BL,Coop needs this too,to enter the BL and I think that's why LMFAP said "FWWM" and then we see the flames,Laura's screaming and Coop went to other room,in the BL.

When TP aired in Sweden it was translated in the subtitles as chance out. I still think that it is chants out. "One chants out.....referring to Fire walk with me.

I think it was probably was "one chants out" when written but I prefer "one chance out" which feels a bit more mysterious. I reckon the writers would be happy with both views especially as it is connected to the lodges were the 'normal' rules of language do not apply.

...One chants out between two worlds...Fire Walk With Me!

Well guys,from the Eastern  "and, plus and " logic approach, instead of the Aristotilian "either, or" logic set applied to this case , it is cool because one indeed has one chance out ( between two worlds), and that one chance out  is  if one chants out... FWWM.

I guess it would be a little long and cumbersome to be : " .In the darkness of future past, the magician longs to see... one chance out between two worlds, and that one chance out is --if one chants out ... F W W M."

Doesn't really roll off the tongue and I may have gone 'round the bend on this one.  Maybe I'll go lie down for a little while.

all the transcripts i can find for the pilot and episode 2 say : "chants"
this has been debated since the beginning.
and both ways have some merit
yet i really believe it's "...one chants out between two worlds : FIRE WALK WITH ME!"

it was definately chants!

I guess it would be a little long and cumbersome to be : " .In the darkness of future past, the magician longs to see... one chance out between two worlds, and that one chance out is --if one chants out ... F W W M."

Doesn't really roll off the tongue and I may have gone 'round the bend on this one.  Maybe I'll go lie down for a little while.

 Is it "in the darkness of future past"? I always thought it was "Through the darkness of future past".