Yes, you are right. But not everyone can chant it sincerely at the beginning. I used to chant it 5,000 to 10,000 times a day with my chanting beads. The more I chant, the more sincere I get and the more purer my mind gets. I am just expecting beginners here. Many masters said when blessing something or someone with mantras, try chanting it 7, 21, 49 or 108 times. If they can chant it with sincere heart, and with a pure mind, then that would be great.
I think one of the important parts of the mantra is realizing that each syllable is meant to free something else from the need of reincarnation.
Aum frees the gods, Ma(n) frees the demi-gods, Ni frees humans, Pad frees animals, Me frees hungry ghosts (which you two have already been discussing), and Hung (or Hum) frees the demons that live in hell. The silence after saying the mantra is an important part of the mantra itself because it signifies that there is no one left to free, and that is the ultimate goal.
Since lover17 brought up saying it with a sincere heart, I thought it might be beneficial to understand one of its purposes so that you know what it is you are supposed to sincerely mean. There are wholly personal benefits to it, such as purifying you from greed, aggression, etc., but I contend that those benefits are best accomplished through intending this goodness for others. The six sacred syllables of Avalokiteshvara, who embodies all compassion, is an exercise in compassion in that you are wishing freedom for literally all of creation.
Guan Yin attain Full Enlightenment by chanting Om Mani Padme Hum, and the full meaning of the mantra means to end the six realm reincarnation. Buddha said he can predict every drop of the rain within 12 years, but he cannot estimate how much benefit by just chanting Om Mani Padme Hum one time.
He has reached Full Enlightenment as a Buddha, but due to his Great Compassion and Vow, he remain as a Bodhisattva. Just like many Bodhisattva, they have reached Full Enlightenment, but remain as a Bodhisattva to benefit the beings. That's why a Sutra said that GuanYin can form into any thing like, human, heavenly beings, arhat, Bodhisattva, or Buddha...etc.
His Buddha name is ZhengFaMingRuLai
and one more thing, there is more than one GuanYin, anyone who practices and make Great Compassion Vows are GuanYin as well. GuanYin is not a person, it is a vow.
Even GuanYin is now a Bodhisattva, but his Buddha form still exist, because Buddha, Dharma, and Sangha exist in the past, present and the future.
When Buddha was talking about the Earth Store Sutra, Buddha said, Countless Buddhas from the past, present and future came to listen to the Buddha's lecture about the Earth Store Sutra. Maybe our future Buddha form went there as well.
