I can offer a good translation to the main words, and some "educated approximation" for the "added verse" (see above message). I learned the translation from my Hindi teacher in India (I have also adjusted the transliteration slightly from the good one, above):

raghupati raagava raajaa raam paatita paavana siitaa raam

Greatest of men, King Ram / Sita, most virtuous of women

iishvar allaah tere naam sabako sanmati de bhagavaan

"Ishwar" [and] "Allah" are Your names / [You] confer to everyone buddhi {wise mind, good heart, etc.)

siitaa raam siitaa raam bhaja pyaare tuu siitaa raam

("Sita Ram" is Rama and Sita [God and His female aspect, consort], taken together.) / [It is] dear to repeat Thy names

Then, here's my approximations for the "added verse":

raat ko ni.ndiyaa din to kaam kabhii bhajoge prabhu kaa naam karate rahiye apane kaam lete rahiye hari kaa naam

("ni.ndiyaa" - this appears to be a typo error; not sure exactly what it really should be...)

Your work turns night into day / Sometimes [seldom] the name of the Lord will be repeated [chanted] / Keep doing Your works... / Keep taking [repeating] the name of the Lord.

One can see why this bhajan (devotional) was "Gandhi's favorite": The verse "Ishwar - Allah" is pointing out that the Hindu name and the Muslim name for God are just that: names. God alone (who is male/female) gives blessings to all, irrespective of creed, caste, etc.

~Adam (acb_33@earthlink.net)