Rabbi Reichman pointed out that while Hashem was acting towards the enslaved Jews in Mitzrayim with Chesed (combined with Rachamim), Hashem was simultaniously acting towards the Mitzriyim with Din. I think that this is a fascinating idea - the Hashem is not limited into one aspect of reality at any present time. His actions are calculated to a degree that we cannot fathom, and every action has an infinate array of repurcusions, which is mind-boggling to try to imagine. Yet Hashem's actions are perfectly fit to the situation so that every person gets exactly what they deserve - all at the same time. The very same action that is showing Benai Yisroel Hashem's unlimited love for them is at the same time punishing the cruelty of the Egyptians.
Sefornu points out this idea on the pasuk 'ki lo shilem avon haEmori', that when Hashem gave Benai Yisroel the land of Israel, this was a reward to the Jews and a punishment to the Cananim, who were chased out of their land. And Hashem waited to give Eretz Yisroel to the Jews untill the exact time when the sins of the Cananim reached a point that they deserved to loose their land. You might then think that the decree that the Jews wander in the desert for 40 years was planned all along, and the sins of the spies was merely a pretext to wait untill the Cananim deserved to be punished. However, the Sefornu points out that while such calculations may be the way a human works, Hashem can figure it out so that everyone gets exactly what they deserve- and yet free will still exists. Humans do what they will, and everyone will get their exact reward and exact punishment at the exact right time.