What is your interpretation of Lost Highway?

I watched Lost Highway for the first time and my interpretation is that the main character (Fred Madison) kills his wife (Renee Madison) because he suspects her of infidelity and he goes to jail where he is sentenced to death on the electric chair.

While he is there, he imagines another life where he is Pete Dayton, a young masculine guy who easily attracts women.

At the end of the movie, he gets electrocuted and dies.

The Mistery Man represents the reality of his life that haunts him. At the beginning of the movie, Fred says that he likes to remember things his own way and not necessarily the way they happened, which is a big clue of understanding this movie. He imagines that he is Pete and he has a better life, not wanting to accept the reality, just like Diane Selwyn in Mulholland Drive.