What are the implications of "ve'Atah Yisrael"?
Rashi: To inform Yisrael that, in spite of the many above-mentioned sins, Hashem still loves them and has compassion on them - and that all He asks from them is to fear Him.
Seforno: It is an opportunity to rectify our past wrongdoings, to realize that the one thing Hashem is asking of us - for our sakes, not for His - is to acquire Yir'as Shamayim, by reflecting upon His greatness.
What are the implications of "Mah Hashem Elokecha Sho'el me'Imach Ki Im le'Yir'ah ... "
Rashi (citing B'rachos, 33b): We learn from here that the only thing that is not in the Hands of Hashem is Yir'as Shamayim. 1
Ramban and Seforno: It refers to the words (in Pasuk 13) "le'Tov lach", and it teaches us that the things mentioned in these two Pesukim that we are required to fulfill is for our own benefit 2 - and not for the benefit of Hashem. 3
I once heard that our Yir'as Hashem is so precious to Hashem because, the only thing that Hashem does not posses is the Midah of fear.
Seforno: To earn everlasting life (in Olam ha'Ba)..