In this first Psalm, the inner meaning is pretty close to the surface.

Verses 1-3 are saying that people who make it a habit to avoid doing evil things can be led by the Lord, through the Word, to love good things. They will be reborn, or regenerated.

In verses 4-5, it's saying that people who don't live well - who are ungodly - will not be saved.

In Verse 6, the meaning is that the Lord knows us all, interiorly.

There are at least four important truths about our spiritual development here:

1) It's clear that our actions, our habits, are vital. There really are spiritual consequences.

2) We can't "grab good" for ourselves, but we CAN stop doing evil things. That clears up some space for good to flow in, from the Lord.

3) The Lord wants to save everyone; He's constantly trying to lead us towards good. But - since human freedom is so fundamentally important - we are free to reject His leading, and to be ungodly, and, ultimately, to reject His salvation.

4) When we die, the loves that we have built up here on earth stay with us; they ARE us. If they're good, we find a place for ourselves in a heavenly society; if they're evil, we gravitate towards a hellish society of people who have similar loves to ours.

Here are a few of the fine points:

"Blessed be the man". When people receive the Lord's blessing, it illustrates how His love and wisdom flow into us in forms that fit the spiritual state those people represent.

"...in the internal sense 'blessing' means being enriched with all spiritual and celestial good, a blessing which neither does nor can possibly exist unless it comes from the Lord." Arcana Coelestia 981.

"Sitting in the seat of the scornful" implies making a habit of looking down on other people. The word 'sit' is used because 'sitting' means remaining in a state; for movement from one place to another means changes of state involving the interiors, as becomes clear from what has been shown in Arcana Coelestia 2837, 3356, 3387, 4321, 4882, 5605, 7381, and therefore sitting down means remaining in a state involving the interiors. Because 'sitting' has this meaning it was an accepted religious custom among the children of Israel to sit whenever they represented a state of the interiors that was permanent, as in the Book of Judges. Arcana Coelestia 9422

4321. Though these are apparent contradictions and unbelievable to man, they must not for all that be rejected as untrue, because experience itself declares that they are true. If everything for which the cause is not known were so rejected, countless things that reveal themselves in the natural order, for which scarcely one ten-thousandth of their causes is known, would be rejected. For the arcana belonging to the natural order are so many and so great that those which man knows are scarcely any in comparison with those he does not know. What must the situation be with the arcana that reveal themselves in the sphere above the natural order, that is, in the spiritual world, such as the following?

There is one life alone, and from this all receive their life, each individual in a different way from another. Even the evil receive their life from that one life alone, and so too do the hells. Inflowing life acts according to the way it is received.

Heaven is ordered by the Lord in such a way that it is like a Human Being, on account of which it is called the Grand Man. Consequently everything in the human being corresponds to it.

Without influx from heaven into everything with him the human being cannot remain in being even for an instant. All in the Grand Man occupy an unchanging position determined by the nature and the state of the truth and good which governs them. Position there is not position but state, and therefore those on the left are seen constantly on the left, those on the right constantly on the right, those in front constantly in front, and those behind constantly behind. They are seen to be on a level horizontal with the head, chest, back, loins, or feet, overhead or underfoot, straight ahead or obliquely, closer in or further away. They occupy these positions, no matter how or in which direction a spirit turns.

The Lord as the Sun is seen constantly on the right, in the middle of the sky there, a little above a line horizontal with the right eye; and everything exists in relation to the Lord as the Sun and to the Centre there, and so in relation to its one and only source from which it is brought into being and kept in being. And since all appear before the Lord occupying their own unchanging positions, which are determined by states of good and truth, they are therefore seen in the same way by everyone, for the reason that the Lord's life, and therefore the Lord Himself, is present in everyone in heaven.

And there are countless other arcana besides these.