Why did he say "Boker Tishma Koli"?
Rashi: In the morning I pray to You about them (enemy troops that come against Yisrael - Rashi on verse 1). It is a time of judgment against Resha'im - "la'Bekarim Atzmis Kol Rish'ei Aretz" (101:8), "Heye Zero'am la'Bekarim", "Ki va'Boker ba'Boker Ya'avor" (Yeshayah 33:2, 28:19).
Malbim: Immediately in the morning You hear my voice to save me immediately after I call.
Why did he say "Boker E'erach Lecha va'Atzapeh"?
Rashi: In the morning I arrange my prayer to You. E'erach it is an expression of arrangement; Menachem said so.
Malbim: I relate to You like the morning. Just like the morning illuminates the darkness, it expels night wolves and tearing beasts, and returns Neshamos to bodies, so is the time when You illuminate Your light. Resha'im perish due to Elokim, and Tzadikim live and rejoice. Just like morning must come after night, so You will illuminate the light of Your salvation after the darkness of the affliction.
What is David looking forward to?
Rashi: You will judge [Yisrael's enemies].
Malbim: I look forward to the shining of Hashem's light and His salvation!