A complete commentarty to this text can be found in the book Ocean of Nectar by Geshe Kelsang Gyatso.
Excerpt from this book:
The Root Text: Guide to the Middle Way
In Sanskrit, Madhyamakavatara
In Tibetan, U ma la jug pa
Homage to youthful Manjushri
Hearers and Middling Buddhas are born from the Powerful Able Ones;
Buddhas are born from Bodhisattvas;
And the mind of compassion, the wisdom of non-duality,
And bodhichitta are the causes of Conquerors' Sons.
Because for this bountiful harvest of the Conquerors
Compassion itself is like the seed, like water for growth,
And like ripening remaining for long enjoyment,
At the beginning I praise compassion.
I bow down to that compassion for living beings
Who from first conceiving `I' with respect to the self,
Then thinking `This is mine' and generating attachment for things,
Are without self-control like the spinning of a well.
Living beings are seen to be transient and empty of inherent existence,
Like a moon in rippling water.
The mind of this Conquerors' Son,
Governed by compassion to liberate living beings completely,
Thoroughly dedicated with Samantabhadra's prayers,
And always abiding in joy, is called the `first'.
From then on, because he has attained this,
He is addressed by the very name `Bodhisattva'.
He is also born into the lineage of the Tathagatas
And has abandoned all three bonds.
This Bodhisattva possesses a supreme joy
And is able to cause a hundred worlds to shake.
Mastering ground after ground, he advances higher.
At that time for him all paths to lower rebirths have ceased;
At that time for him all grounds of ordinary beings are exhausted.
He is shown to be similar to an eighth Superior.
Even when abiding on the first view of the mind of complete enlightenment,
He defeats those born from the speech of the Powerful Able One and the Solitary Buddhas
Through the power of his greatly increased merit;
And on Gone Afar he surpasses them in wisdom.
At that time giving, the first cause of the enlightenment of complete Buddhahood,
Becomes surpassing for him.
That he acts gracefully even when giving his own flesh
Is a reason for inferring the non-apparent.
All these beings strongly desire happiness,
And humans cannot be happy without enjoyments.
Knowing that these enjoyments come from giving,
The Able One taught giving first.
Even for those with little compassion and very rough minds,
Who pursue only their own interests,
Desired enjoyments that cause the alleviation of suffering
Arise from giving.
Even they, on some occasion of giving,
Will soon come to meet a Superior being.
Then, having severed the continuum of samsara completely,
Those who possess this cause will go to peace.
Those who hold in their mind a promise to help living beings
Immediately experience joy from giving.
Therefore whether one is compassionate or not,
The instructions on giving are fundamental.
If from hearing and contemplating the word `Give',
The Conquerors' Son develops a bliss
The like of which is not aroused in the Able Ones through experiencing peace,
What can be said about giving everything?
Through the pain from cutting and giving his body,
He sees from his own experience
The suffering of others in the hells and elsewhere,
And strives with great effort to eliminate it quickly.
Giving with emptiness of giver, gift, and receiver
Is called a `supramundane perfection'.
Where attachment to these three is generated
It is explained as a mundane perfection.
Thus, abiding high in the mind of the Conquerors' Son,
Beautifying with light this holy base,
This Joyful is like a water crystal jewel;
For having dispelled all heavy darkness it is victorious.
This concludes the first ground in Guide to the Middle Way.

