"I surrender all" ... one of the definitions of "surrender" is yield - cease opposition; stop fighting.

What happen to irresistble grace? It sounds to me that in this song, you can resist grace and finally give in...

Just my two cents...
Billy,

I'm not sure where you're getting the idea from these lyrics that it is possible to resist grace. I think the song does a nice job of presenting the mysterious tension between God's sovereignty and irresistible grace and our responsibility. In verses 2 and 3 the author asks Jesus to "make me Thine," "Let me feel," and "Fill me with thy power." Once Jesus does that, we are free to surrender ourselves to Him.
For the most part, the reharmonizations are nice. In bar 3, and again in bar 9, though, you cannot play a G natural in the melody over an F#m7 chord. G would be the b9 to the F#. The only 9th you can play over an F#m7 chord is G# (the natural 9). The only exception is when the b9th is a passing tone. That's not the case here.
Ross,

I would agree with you. A F#7#5b9 would work instead of F#m7.
Thank you for taking notice.

Craig
The refrain speaks of total surrender which no one but Jesus Christ was able to totally fulfill. Our desire must be to cease opposition to God and his will goes without saying but is this song/prayer bordering on hypocrisy?
Ray,

When we sing "I surrender all," we are speaking more to desire than fulfillment, just like when we join the Psalmist in saying things like "when I awake, I shall be satisfied with your likeness" (17:15) and "I love you, O LORD, my strength." Are we perfectly satisfied in the Lord, and do we perfectly love Him? Not until our "body of death" (Romans 7:24) is finally transformed and we are set free from the struggle with sin. There are many classic hymns which use this kind of language, and if understood as something that has been partially experienced now, is perfected by the work of Christ and made acceptable to the Father, and our desire expressed as a prayer, then I think it's very appropriate to sing this way.