Y de que con el paso del tiempo

Y de que con el paso del tiempo
 

Y de que con el paso del tiempo
Lo dejes todo en el recuerdo

and that with the passing of time.
you leave everything in a memory.

good?

Yes. :)

It's more something like like

Lo dejes todo en el recuerdo = You turn it into just reminiscences

or something implying a bunch of emotions and recent developments ("it") will lose its power.

"En el recuerdo" is frequently used as "almost into oblivion" and it's even an euphemism for passing away.