1. 6:3 "their own place" reminds me of the line from Paradise Lost: "Better to reign in Hell, than serve in Heaven."
2. It seems like all this section (Jacob 4-6) is written and not spoken, and Jacob keeps addressing his "beloved brethren". Who is talking to? In light of 4:17, it feels to me like he's addressing "the Jews" in 6:4ff -- God is merciful to all of Israel, root and branch; God is patent (Jacob 5), so repent; will you reject the prophecies you had of Christ?
3. 6:11-13 is a quick dash of temple imagery. Strait gate; be wise; Day of the Lord.
4. 7:1 Sherem seems to have come from somewhere else. Is he from the Lamanite / Lemuelite group, bringing their Deuteronomist ideas to the erring Nephites? If so, his people might have seen him as a missionary (7:3) and a martyr.
5. 7:10-11 tie us back into the previous chapter, 6:8 -- if you read the scriptures and don't see Christ in them, you're missing the point. Maybe 4-7 is all together one unit, and that's the point. So maybe Jacob's "beloved brethren" include presumed or actual Lamanite / Lemuelite readers.
6. 7:12 ties together the two great visions of 1 Nephi: if there is no atonement (chapters 11-14), then all men are lost (chapter 8).
7. Remember that on the Day of Atonement, as the Name is pronounced, everyone falls down. In 7:21, at Sherem's confession, the power of God is made manifest, and it knocks everyone down.
8. 7:23 "peace" and "the love of God" are restored. Remember that the "love of God" is an image from 1 Nephi 11, and is associated with the tree and the plain and precious things.
"Peace," "shalom" in Hebrew, is an interesting word. Its three-letter root is SH-L-M, which gives us various words, expressing coming to an end, staying healthy, making amends, repaying or rewarding, and completing or becoming complete. When Matthew 5:48 urges us to be "perfect", it uses the Greek word "teleioi" for "perfect", a word that embodies many of the same meanings and can specifically refer to someone who is initiated, someone who has been through the mysteries, learned the secret doctrines and is a temple insider (in LDS parlance, "endowed"). "Peaceful" would be a Hebrew-English equivalent, and "peace" would be a word that means something equivalent to "mysteries" or "temple blessings". In this context, Isaiah 48:22 (there is no "peace" unto the wicked) is interesting, and, in fact, has already been quoted by Nephi (1 Nephi 20) in his temple-rich writings.
So, to recap: Sherem comes seeking to overthrow the "doctrine of Christ", which we've learned from Nephi includes various stages that lead one to speaking with the tongues of angels (2 Nephi 31:2, 13-14), which we know from Isaiah means being in the holy of holies (2 Nephi 16:2-4). Sherem works hard and has some success (7:3). After he's defeated and dies, "peace" and "the love of God" return. Yeah, Joseph Smith stuck his face into a hat and made that up. Ha!
9. With Sherem's mission having been foiled, Jacob immediately talks about the countermissions he sent back to the Lamanites (7:24).