The psalmist expresses his happiness with God’s steadfast love and gratefully praises God. Is better than life is a way of saying that God’s steadfast love is the most precious thing there is; without it life is not worth living.

In verse 4a to bless used of God means to praise or thank him (see 16.7 and comments), and in verse 4b the Hebrew is “I will lift my hands in your name” (see comments on 28.2), that is, he will pray as he calls on the name of God (see Revised Standard Version; for “name” see 5.11). People would raise their hands when they prayed, just as today many people will fold their hands. If the translator follows Good News Translation, it may be best to shift to a time clause; for example, “I will lift my hands when I pray” or “when I pray I will lift my hands.”

Quoted with permission from Bratcher, Robert G. and Reyburn, William D. A Handbook on the Book of Psalms. (UBS Helps for Translators). New York: UBS, 1991. For this and other handbooks for translators see here .