Why do Chachmah inherit honor?
Malbim: Chachamim are those who conduct according to the laws of Chachmah. They inherit honor, for honor of the Nefesh illuminates in them to be elevated over Kalon, i.e. desire - lowliness of the Nefesh and its disgrace. This honor will be permanent, just like the Nefesh is permanent.
What is the meaning of "u'Chsilim Merim Kalon"?
Rashi: [A Kesil] separates disgrace for his portion.
Sha'arei Teshuvah (3:147): An Ish Kalon (disgraced, base person) elevates, honors and praises Kesilim.
Malbim: Kalon, i.e. desire, raises Kesilim to oppose honor of the Nefesh and lower it to something disgraceful - physical lust and the animal Nefesh. They argue with the laws of Chachmah, for the images of Kalon and desire rise from the depths of the Nefesh and go onto the face of the heart and overpower the images of honor and Chachmah. Their end is disgrace.
Ma'alos ha'Torah (DH uv'Parashas Kedoshim and DH b'Parashas va'Eschanan): Kesil is one who does not know Torah - "u'Chsil Lo Yavin Es Zos" (Tehilim 32:7). Zos is Torah - "v'Zos ha'Torah" (Devarim 4:44). When the Yetzer ha'Ra sees one who does not properly strive to learn Torah, it goes above and prosecutes 1 - "Merim Kalon."
Bava Basra 16a: The Satan is the Yetzer ha'Ra.