What is the meaning of "ve'Amru el Yoshev ha'Aretz ha'Zos"?
Rashi and Rashbam: It means that the Egyptians will say about the Cana'anim. 1
What are "Asher Ayin be'Ayin Nir'eh ... " and "va'Anancha Omeid aleihem" referring to?
Rashi (in Bava Metzi'a, 15b) and Seforno: "Asher Ayin be'Ayin?" means that Hashem's Hashgachah K'lalis over Yisrael was discernable ("va'Anancha Omeid aleihem" - on an ongoing basis 1 (during their stay in the desert) - Seforno). 2
Targum Yonasan: "Asher Ayin be'Ayin Nir'eh ... " refers to when Yisrael saw the Shechinah on Har Sinai and they received the Torah; "va'Anancha Omeid aleihem", to the Ananei Kavod, which protected them in the desert from the heat and the rain.
What are the current Pesukim - 14-16 - adding to the previous Pasuk?
Rashi (citing the Tanchuma) Ramban and Rashbam: When the Egyptians will see the extent of Hashem's Hashgachah K'lalis (communal Providence) over K'lal Yisrael, 1 and how He then suddenly killed the entire nation in the desert, they will attribute it to the might of the local inhabitants, which rendered them more than a match for Hashem, Kevayachol. 2
Ramban (in Pasuk 13): When the Egyptians will see the extent of Hashem's Hashgachah K'lalis (communal Providence) over K'lal Yisrael, and how He then suddenly killed the entire nation in the desert, they will say that Hashem was able to overpower the Egyptian gods, but not the gods of the Cana'anim. 3
Rashbam: How He led them lovingly with a Pillar of Cloud and a Pillar of Fire.
Rashi: Because Par'oh was not comparable to the thirty-one kings of Cana'an. The Ramban objects to this explanation however, bearing in mind that Hashem killed the Egyptian firstborn and drowned their entire army in one fell-swoop - so why would He not be able to do the same with the Cana'anim, irrespective of their superior strength?
What is the meaning of "va'Anancha Omeid aleihem"?
Rashi, Seforno and Targum Yonasan: It means that Hashem was protecting Yisrael continually - by means of the Cloud of Glory (from the heat and the rain - Targum Yonasan [by day, and by means of fire, by night 1 - Seforno]).
Seforno: As the Torah records in Pikudei Sh'mos, 40:38.
What role did the Amud Anan ... and the Amud Eish play in the current context?
Targum Yonasan: The Amud Anan by day - to flatten the mountains and the hills and the Amud Eish by night - to light up the darkness.