Is it feasible for you to move a whole line at a time from the line lyrics to the note lyrics?

As Dave said above, the note based lyric entry does seem to accept an entire line of text at once. You can copy a complete line from the line lyric and then paste it into the lyric entry box. If your melody track is empty, all you need is one note at the middle of the line as the location point for the lyric (which is actually now a whole string of words). In this case, the note based lyric editor will apparently just see the line as one big long word with spaces in it. Then all you need is one note per line (right in the middle of the line) for the "lyric" to align itself with. Just erase the track to remove the notes afterward.

Hitting return after pasting in each line will advance the entry point to the next note, which in this case would be in the middle of the next line. I'm not sure how you initially select a note to locate a lyric with, though.

When each lyric aligns itself with a note, it centers the lyric on the note. Therefor you need the note right in the middle of the line. So for a 4 bar line, that would be bar 2, beat 4, or bar 3, beat 1.

You can also use Edit in the note based button section to open the lyric event list editor. You can then enter a bar and beat number for the middle of the line you want the line of lyric on, and paste the whole line in there.