*Minor differences ignored. Grouped by changes, with first version listed as example.
In God my Saviour - God is called "Saviour," as he saves people from sin and death. He was "Mary's" Saviour, as he had redeemed her soul and given her a title to eternal life; and she rejoiced for that, and especially for his mercy in honoring her by her being made the mother of the Messiah.
My spirit hath rejoiced - Exulted. These words are uncommonly emphatical - they show that Mary's whole soul was filled with the Divine influence, and wrapped up in God.
And my spirit hath rejoiced in God my Saviour. Which also, may be understood, either of God the Father, who was her Saviour, both as the God of nature and providence; so the Persic version renders it, "in God that gives me life"; and who had supported, maintained, and preserved her life; and as the God of grace, who has contrived the scheme of salvation, fixed upon, and appointed Christ to be the Saviour; and who saves by him, and therefore is sometimes said to be our Saviour. Titus 3:4 or of Christ, the Son of God, who being truly and properly God, was fit to be a Saviour; and is a very suitable, able, and willing one; and which is the great encouragement to sensible sinners, to look up to him, and be saved; and lays a solid foundation for rejoicing in him, since what he did as man, had hereby an infinite virtue and efficacy put into it, as was put into his blood, sacrifice, and righteousness; whereby the purposes designed were answered by them; and since he must be able to keep their immortal souls, which they commit unto him, and must have an interest with his Father, as their advocate, and a fulness, to supply all their wants: the consideration of Christ, by Mary, as God her Saviour, as having an interest in him, as a Saviour, and this her Saviour, God, gave her greater joy, than being the mother of him as man; and this her joy was not carnal, nor merely external, but inward and spiritual: it was a joy in her own spirit, and was excited there by the holy Spirit of God.
my Saviour--Mary, poor heart, never dreamt, we see, of her own "immaculate conception"--in the offensive language of the Romanists--any more than of her own immaculate life.
My spirit hath rejoiced in God my Saviour - She seems to turn her thoughts here to Christ himself, who was to be born of her, as the angel had told her, he should be the Son of the Highest, whose name should be Jesus, the Saviour. And she rejoiced in hope of salvation through faith in him, which is a blessing common to all true believers, more than in being his mother after the flesh, which was an honour peculiar to her. And certainly she had the same reason to rejoice in God her Saviour hat we have: because he had regarded the low estate of his handmaid, in like manner as he regarded our low estate; and vouchsafed to come and save her and us, when we were reduced to the lowest estate of sin and misery.
*More commentary available at chapter level.