Our response to a faithful God.
v1-2: "I will," a conscious decision to praise God; a response of the will, not just of the emotions. The whole heart is involved, Ps 9.1; 111.1; the Hebrew word refers to the will and the feelings; this is the real person, the driving force of a person's life. We praise God, for this is a response of the spirit; thus the whole person is given over to honouring Him.
Testimony before the "gods," for God is unique.
God has exalted, over all things, His Word and His Name. The Father seeks those who will worship Him in spirit and in truth; there is a quality of worship that truly honours God. It emphasises the Lord Jesus Christ, by whom God has revealed Himself, and it is governed by His Word.
v3: The powerful encouragement of answered prayer. This feeds our praise, and encourages further prayer - an upward spiral of spiritual experience.
v4-5: Testimony to others, beyond the borders of Israel. There is an important truth that every knee shall one day bow before the true God, and the Lord Jesus Christ (Is 45.23; Phil 2.10-11).
v6: The personal, compassionate God, concerned for the lowly. He condescends to look on us.
v7: Confident of God's deliverance.
v8: Phil 1.6; the Lord's plan for me; to change and mature and perfect me; not by fear or repression, but by His mercy.