Why did he say "va'Techaserehu Me'at me'Elokim"?
Rosh Hashanah (21b): Fifty gates of understanding were created. All were given to Moshe, except for one - You made him slightly less than the angels (R. Chananel 21b; Maharal 21b - slightly less than Hashem).
Rashi: You made man slightly less than the angels. You gave to Yehoshua power to silence (stop) the sun and dry the Yarden. Moshe split the Yam Suf and ascended to Shamayim. Eliyahu revived the dead.
Radak: Man's Neshamah has the same nature as the angels. Man is slightly inferior, for his Neshamah is in a physical body.
Malbim: This is the first of four proofs that man is the purpose of creation, unlike the philosophers. Do not say that man is a Chai (living being, together with animals), who speaks. Rather, he is a Medaber (intellectual being, like the angels) who is Chai (has a physical body). He is slightly below the angels, for he has a body. It is secondary; when he dies, it returns to the earth. His Nefesh is primary; it never goes away or changes. He is above the celestial bodies, which are primarily physical. Also refer to 8:6:2:1, 8:7:1:3, 8:7:2:3.
Why does it say "v'Chavod v'Hadar Te'aterehu"?
Malbim: This is the second proof that man is the purpose of creation. Hashem's unlimited Chachmah is seen via the creation of man. Sefer ha'Ikarim says that an artisan's Chachmah is seen in two ways. (a) If he makes small wondrous openings in precious metals, e.g. beautiful ornamental designs in gold, which is proper for this. The value is based on the work, and not on the worker. (b) If he makes such openings in wood or iron, in which it is difficult to make such openings, the value is based on the work put into it. Both kinds of Chachmah are seen in man. He is composed of soul and body. The soul is proper for Chachmah, understanding and intellect. The value of the handiwork is in the outcome itself. In the body, Hashem made wondrous designs in earth, flesh and bones. Their nature is not to receive such designs. The value is due to the Artisan. "V'Chavod" refers to the Nefesh, which is called Kavod in Kisvei ha'Kodesh; its intrinsic honor is because it is Bas Elokim. "V'Hadar Te'aterehu" refers to Hashem's Chachmah seen in it.
