Corrections:
Hineh mah-tob u-mah-na'im (' = glottal stop)
Shebet akhim gam-yakhad
the Bs are pronounced V when between two vowels

Hineh = behold; is used to start a sentence describing a status
Shebet = the sitting
gam = together; a lot of other meanings and functions elsewhere
yakhad = together, unity

More about this verse and its translations as an academic drinking song in my lecture, held at May 1st, 2004 in Hull during the Mudcat Eurogathering. Here also the beautiful translation of the King James Version.