The following article is from Shaikh Muhammad ibn Abdul Wahhaab’s (rahimahullah) Baad Al-Fawaaid Surah Al-Fatihah. He also has a treatise on prayer which includes some nice information about this Surah.
[You can download the following article here.]
Some of the Benefits of Surah Al-Fatihah
In the Name of Allaah, the Most Merciful, Bestower of Mercy.
 All praise is for Allaah, Lord of the worlds.
 The Most merciful, the Bestower of Mercy
 Owner of the Day of Recompense
These three verses contain three matters:
The First Verse: Consist of Love. This is since Allaah is the One who grants blessings, and the One who grants blessings is loved in accordance to His granting of blessings.
Love is divided into four types:
The First Love: The Polytheistic Type of Love: This applies to those about whom Allaah said: “And amongst mankind are those who take rivals apart from Allaah, loving them like the love that is due to Allaah…” up to where He said: “And they will not be able to get out from the Fire.”
The Second Love: Love for falsehood and its adherents while having hatred for the truth and its adherents. This is the characteristic of the hypocrites.
The Third Love: The Natural Type of Love: This applies to love for wealth and children. If such things do not preoccupy one from obeying Allaah or assist in disobeying Allaah, then they are allowable.
The Fourth Love: Love for the adherents of Tawheed (monotheism) and hatred for the adherents of Shirk (polytheism). This is the strongest handhold of Faith and the greatest thing a servant can worship his Lord by.
The Second Verse: Contains Hope
The Third Verse: Contains Fear.
“You alone do we worship…” meaning: “I worship You, O Lord, with what has preceded – i.e. the three things – with Love for You, Hope in You, and fear of You.”
These three things are the pillars of worship, and directing them to someone (or something) other than Allaah is Shirk (polytheism).
In these three things is a refutation against those who cling onto just one from amongst them, such as those who cling onto only Love, or cling onto only Hope or cling onto only Fear.
So whoever directs any of these three aspects to someone other than Allaah is a polytheist.
Amongst its benefits is:
A refutation against the three groups, each of which sticks to one aspect apart from the others, as is the case with those who worship Allaah with only Love. And as is the case with those who worship Allaah with just Hope, such as the Murji’ah, and those who worship Allaah with just Fear, such as the Khawaarij.
 You alone do we worship and in You alone do we seek assistance
This verse contains the Oneness of Allaah in the Worship due to Him and the Oneness of Allaah in His Lordship.
“You alone do we worship” contains the Oneness of Allaah in the Worship due to Him, i.e. Tawheed al-Uloohiyyah.
“And in You alone do we seek assistance” contains the Oneness of Allaah in His Lordship, i.e. Tawheed ar-Ruboobiyyah.
 Guide us to the Straight Path
This verse consists of a refutation against the innovators.
As for the last two verses, then from among its benefits is that Allaah mentions the (various) conditions of the people. Allaah has divided them into three categories: (1) Those whom Allaah has bestowed His Blessing on; (2) Those whom have gained Allaah’s Anger; and (3) Those who are astray.
Those who have gained Allaah’s Anger are the people who have knowledge but no actions.
Those who are astray are the people who perform worship but no knowledge with it.
Even though the reason why this verse was revealed was with regard to the Jews and the Christians, it applies to everyone that characterizes himself with these attributes.
The third category consists of those who are characterized with knowledge and action. They are the ones whom Allaah has bestowed His Blessing on.
Another of the benefits derived from this surah is that an individual is freeing himself from any power or might since he is the one who is having the blessings bestowed on him. This surah also presents a complete awareness of Allaah and negates all defects from Him, Blessed and Exalted. The surah also contains a person’s aware ness of his Lord and awareness of himself.
This is since if there is a Lord, then there must also be one who is governed. If there is one who grants mercy, then there must also be one who is shown mercy. If there is an owner, then there must be that which is owned. If there is a worshipper, then there must also be one that is worshipped. If there is one that is guided then there must be one that guides. If there is one who bestows blessings, then there must also be one who receives the blessings. If there is one who obtains anger, then there must also be one who is angry. And if there is one who is astray, then there must also be one who leads astray.
So this surah consists of the Oneness of Allaah in His Worship and Lordship and a negation of deficiencies from Allaah. It also consists of the definition and pillars of worship. And Allaah knows best.
 Translator’s Note: Meaning: “The Path of those upon whom You bestowed Your Blessing. Not of those who have gained Your Anger nor of those who are astray.”