1)
What is the significance of the toes?
1.
Ibn Ezra: These are the officers of Yishmael, and kings of the east and west.
2.
Malbim: They are the end of the image ? the last time of the kingdoms. He saw that there are 10 toes, for in the end of days, Malchus Romi, which was divided between Yishmael and Edom (the shins), will become 10 kingdoms in the world. No one kingdom will rule over the world; the 10 will rule over the world together. Some will be from Edom, and some from Yishmael. He similarly saw 10 horns in the fourth beast (7:7). Then, there will not be one side iron and one side Cheres. Rather, each foot will have toes or iron and Cheres. I.e. Edom will have strong and weak kings, and also Yishmael will.


