I like what Matt says in the video here about reclaiming this prayer as personal. On some retreat Br. Ted told us (or maybe he just told me, I can't remember) to rewrite the Magnificat in our own words with what the Lord has done for us. It was a really good task.
I'm also reminded of reading this post from the Whispers in the Loggia Blog and how moved I was that Kenya's new cardinal John Njue's first response to the news was to burst into song. And what did he sing? My soul praises the Lord because He has lifted His humble one. What a beautiful witness!
Anyway, this is a great song to sing corporately. Any song where you get to sing Holy is His name! and I can't boast of anything and it's Your name we're shouting out, shouting out loud is totally fine with me. In fact this is what I meant when I discussed earlier worship that was "God-centered," singing to God how great He is and how mighty He is? Awesome. To channel Louie for a second, God is into God, He wants us to know His power so we can rely on it!
Finally, I totally dig the chorus at the end where the guitars, etc cut out for that nice strictly percussive section.