What do we learn from "Rega b'Apo"?
Brachos 7a: "V'Kel Zo'em b'Chol Yom" (7:12) - His anger is only for a Rega [each day], i.e. one part in 58,888 parts of an hour (about 1/15th of a second).
Radak: If He gets angry at a person, it is only for a Rega.
Malbim: The anger that Hashem showed to me for my sin, and what He punished me in this world, in my eyes it is like a moment.
What is the meaning of "Chayim bi'Rtzono"?
Rashi: There is long life in His desire and being appeased. Radak - all of His 13 Midos are for good, except for "Poked Avon Avos" (Shemos 20:5), which is until three or four generations.
Radak: His desire and informing me of pardon of sin is long life, i.e. the world to come.
Sha'arei Teshuvah (1:42): Tzadikim desire that Hashem will be pleased with them. His Ratzon (desire) is the true, lasting life and the great light that encompasses all pleasantness.
Sha'arei Teshuvah (4:8): His Ratzon is the life of the Nefesh, body and everything created.
Malbim: Even at the time of anger, He desires that I live. The anger was not to kill me, only to pardon my sins via afflictions, and return to make me live.
Why does it say "ba'Erev Yalin Bechi vela'Boker Rinah"?
Rashi: Hashem limited the time of afflictions to night.
Radak: If one cries at night, in the morning they will give to him good tidings of singing. Crying and sighing is compared to night, which is darkness. The time of salvation and good is compared to morning, which is light and Simchah.