How we cite our quotes:
[James] stepped back, and began to circle, casually, as if he were trying to get a better view of a statue in a museum. His face was still open and friendly as he decided where to start. (22.127)
Bella is speaking of James as he is circling her. Since Bella isn't much of challenge to kill, he's taking his time, smiling as he contemplates how to kill her.
Through the nausea and dizziness I saw something that gave me a sudden, final shred of hope. [James's] eyes, merely intent before, now burned with an uncontrollable need. The blood – spreading crimson across my white shirt, pooling rapidly on the floor – was driving him mad with thirst. No matter his original intentions, he couldn't draw this out much longer. (22.140)
All Bella hopes for at this point is a quick death. She doesn't think there's any possibility that she'll live.
I heard, as if from underwater, the final growl of the hunter. I could see, through the long tunnels my eyes had become, his dark shape coming toward me. With my last effort, my hand instinctively raised to protect my face. My eyes closed, and I drifted. (22.142)
Bella speaks as if these are her final words before death. Little does she know that Edward is on the way.