What is "Mashgeh Yesharim b'Derech Ra"?
Malbim (according to the Mashal): If one sees straight people, and makes them err from the straight path to an evil path, to make them fall in the pit that he prepared, he himself will fall in his pit - "Koreh Shachas Bah Yipol" (26:27).
Malbim (according to the Nimshal): This discusses the way of logic. Yashar is in Binah. Even though Yesharim go in a straight path, they come to a mistaken investigation via one who makes them stray from the way of their Binah. His punishment will be to fall in his pit. One who entices to evil, the ruin is attributed to him, and not to the one whom he enticed.
What is "bi'Shchuso"?
Rashi: It is an expression of Shachas (a pit).
Why does it say "u'Smimim Yinchalu Tov"?
Malbim (according to the Mashal): The pure who do not deceive, they will inherit good. One who was passive and did not transgress, he receives reward.
Malbim (according to the Nimshal): It will not occur that someone will make a Tamim err. They do not rely on their Binah at all; they go in Temimus and live in Emunah. They inherit Tov as an inheritance that is not taken from them, and it is not via their Avodah. They do not rely on their hearts' understanding, only on the inheritance of their Emunah.