What does this Mizmor discuss?
Radak: It discusses the acts of creation. Hashem does everything with Chachmah to fix the creations.
Why does it say "Barchi Nafshi [... Elokai Gadalta Me'od?]"?
Brachos 10a: David saw the day of death and sang Shirah.
Radak: Among the lower beings, the only one that knows to bless is man's intellectual Nefesh.
Malbim: After blessing Hashem for conduct of the Nefesh, he comes to bless for the Klal of the creation. He arranged everything with exceeding Chachmah and Hashgachah. Everything is a purpose for something else, until man, who is the purpose of the entire creation.
Why does it say "Gadalta Me'od"?
Radak: From Your actions, we recognize Your greatness.
Radak citing Shocher Tov: Before You created the world, You were great. After You created the world, You became very great.
Malbim: You Yourself, in the hiding place of Your strength, You are very great; we have no conception or knowledge [of Your grandeur]. In You is contained the entire existence from the beginning to the end; "Gadol" applies to this.
What is the meaning of "Hod v'Hadar Lavashta"?
Radak: This is when You created the Galgalim first. They are like a beautiful garment for You. From their beauty, man recognizes Your awesome beauty and honor. This is like one who wears a royal garment - one who does recognize him, he knows from the garment that he is the king.
Radak citing Ibn Ezra: Your great beauty and glory wearies the eyes of the Neshamah of Chachmah from seeing Your honor, like a garment prevents one from seeing the wearer himself.
Radak citing Shocher Tov: A human, if he is a Gibor, he is not beautiful; if he is beautiful, he is not a Gibor. Only Hashem has both attributes. In the future he will give them to Melech ha'Mashi'ach - "Hod v'Hadar Teshaveh Alav" (21:6).
Malbim: When Your hidden desire was aroused to take out the worlds from Your hidden self, You 'wore' beauty, i.e. revelation of supreme Sefiros (Midos of Hashem) and supreme lights, which are the covering of His garment. This is like a Kamtza - its garment grows with it 1 . He makes existence from void. Hod is more intrinsic than Hadar. Similarly regarding lights and Kelim, there is surrounding light and inner light; Neshamah, and Neshamah of the Neshamah.
Bereishis Rabah 21:5. The Targum of "ka'Chagavim" (Bamidbar 13:33) is 'k'Kamtzin' (Matanos Kehunah).