Marley, the Muse's darling for thy verse,
Fit to write passions for the souls below,
If any wretched souls in passion speak?
Why go not all into the Elysian fields,
And leave this centre barren of repast, 
Unless in hope Augusta will restore
The wrongs that learning bears of covetousness,
And court's disdain, the enemy to art?
Leave, foolish lad, it mendeth not with words;
Nor herbs nor time such remedy affords. 
 Marley, the Muse's darling for thy verse,
"Marley":: Christopher Marlowe. Fit to write passions for the souls below,
"Muse's darling" can spell Mary Sidney, or Mary Sidney is a one-way anagram of "Muse's darling." She is the Muse here (the tenth Muse in sonnet 38).
"fit":: qualify; adjust; supply; If any wretched souls in passion speak?
"fit":: to force by fits or paroxysms out of (the usual place) (OED);
"fit":: a position of hardship, danger, or intense excitement (OED);
"fit":: a mortal crisis; a bodily state that betokens death (OED).
The use of fit shows Marlowe is writing under some mortal crisis, his faked death.
"the souls below":: the common audience, target of Shakespeare's plays.
"wretched, speak" can spell Shakespeare (who does the speaking job). Why go not all into the Elysian fields,
"any wretched souls" can spell Wilton House.
"souls":: Wilton House poets.
"Elysian fields":: fields for the departed without return, a hint of Marlowe's faked death. Elysium is a place of ideal happiness. And leave this centre barren of repast,
"all":: indicating Wilton House poets.
"Why go not all":: a rhetorical question. If Marlowe is happy after his faked death in some Elysian fields, then all Wilton poets should go.
"barren of repast":: Wilton House cannot afford the "Why go not all." Unless in hope Augusta will restore
Augustus (63 BC-14 AD) was a patron of literature (Virgil, Horace, Ovid). The wrongs that learning bears of covetousness,
"Augusta":: a title to the wife of Roman emperor.
"in hope Augusta":: indicating a powerful patroness in Peele's time.
"Augusta":: Mary Sidney, an august patroness, based on the "Muse's darling."
"that learning":: Mary Sidney's learning adventure in Shakespeare. And court's disdain, the enemy to art?
"covetousness":: she covets Marlowe's words, one of the wrongs.
"distaine" can spell Sidney, and "enemy to art can spell Mary. Leave, foolish lad, it mendeth not with words;
"court's disdain":: Pembroke's disdain.
Peele sees Mary Sidney as "the enemy to art."
to Marlowe in the next line after the wrongs.
"Leave":: Peele's advice. Nor herbs nor time such remedy affords.
"lad":: a serving-man, attendant; a man of low birth and position (OED).
"foolish lad":: Kit Marlowe.
"mendeth not with words":: Marlowe's hard working in the Elysian fields for the Herberts cannot mend his sin.
This lines spells Mary Sidney Herbert and Henry Herbert.
"herbs nor time" can spell Herberts and Henry Herbert. Wilton House poets are supported by the Herberts.
"nor such remedy affords":: the Herberts cannot afford to restore Marlowe.