Here is “pratipadartha” correct meaning of Gayatri Mahamantra as per Madwa Tradition.
Om bhuh= full of auspicious qualitites
bhuvah= the creator
svah = the Lord of Lakshmi and full of bliss
tat = the well known and universally present
savitr = the creator, sustainer and destroyer
varenyam = the one fit for praise, full of bliss and full of knowledge
bargah = seated in Suryamandala, all round protector, the lifter from the cycle of births and deaths and the giver of moksha
devasya = full of blissful qualities
dimahi = we mediate
dhiyo yo na pracodayat = the one who guides or propels our intellect
dhiya = intellect
nah = of us
praccodayat = let be the preraka or the guide
Reference : Sadachara Sangraha Published by Sri Krishna Raghavendra Trust of T Nagar Chennai.