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Suggested translation^1,2:

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¹This translation may have been updated from the original suggested translation as a result of the discussions that follow.
²Click on the {verse number} of a translation to see other good translations of the verse.

I'd translate the above verse as follows:
{1:7} The path of those upon whom You have bestowed favor, other than those who have evoked [Your] anger and not the straying.

The reason is that the word used, غَيْر does not mean "not". It means "other than." The distinction is important because God's favor was bestowed on people who later turned around and rebelled against Him and evoked His anger!

Good point.

One remark about the last part. I would use "those who have strayed" instead of "the straying," although the latter is closer to the Arabic wording style. The reason is that it matches "those who have evoked [Your] anger" which was a necessary deviation from the Arabic wording style to convey the meaning of that part, and I believe that two parts with matching style in Arabic within the same verse should be translated to matching styles in English.

Finally, I would use "nor" rather than "and not" because of the phrasing, so I suggest

{1:7} The path of those upon whom You have bestowed favor, other than those who have evoked [Your] anger nor those who have strayed.

Your suggestions are quite good, Pragmatic. But, recall that the objective of this project is to arrive at a translation that is as close as can be to the Arabic, without losing meaning or sacrificing grammar. So, let me suggest this translation:

{1:5} It is You we worship and it is You we ask for help.

{1:6} Guide us [to] the straight path -

{1:7} The path of those upon whom You bestowed favor, other than the objects of anger and not the straying.