Why does it say "Ki Ekach Mo'ed"?
Rashi: When we have a Yom Tov, we do not engage in obscene talk and frivolity [like all nations].
Radak: Hashem says, I will choose a time for Yisrael to leave Galus.
What is the meaning of "Ani Meisharim Eshpot"?
Rashi: We put to our hearts to praise You according to the event of the day.
Radak: I will judge their enemies with straightness.
Malbim: The verse depicts that straightness is the foundation on which the world stands. It is as if the world stands on pillars, and they are established on one base - straightness. A Midrash 1 says that the world stands on one pillar, called Tzadik. If that base (straightness) would slip, automatically the land would melt and all its inhabitants would perish (verse 4).
Otzar ha'Midrashim (Sheloshah v'Arba'ah, p.541) learns this from "v'Tzadik Yesod Olam" (Mishlei 10:25).