Warning: this is an essay. Read at your own risk.
I’ve never made a study guide, I only have some mudmap thoughts.
If I were reading a sutta, normally I would read it together with Ven. Analayo’s studies (Dharma Drum series: e.g. Madhyama Agama studies), any recordings from Bodhinyana teachers and Bhante Sujato, the recordings from Ven. Bodhi, and Piya Tan’s notes. I would also look up the DPPN for the names.
If I had time, I would also read the Chinese, whatever other parallels are accessible to me, the commentary and the subcommentary as well, and maybe some translations into other languages (I was just given a Tibetan grammar by a friend, so this will be next hahahhahaha). But there is still just a lot in the English material without going to that extent.
I would be a bit scared to read a text without support from others’ notes, as the texts are ancient and I don’t assume I can just read them and they will make sense to me.
I feel lucky that we received a tradition of exegesis from our teachers so there is no need to reinvent the wheel. So most of the time what I am interested is following our teachers in a sutta-based method of explaining the text, not the Abhidhamma method, which makes life so easy.
Anyway, I would be interested in a few basic things, like where does the text occur (traditional reference system, not Wisdom or PTS)? Which edition and translation is being used? Are there parallels?
–>explain the title: is the text named for a person? a concept?
→ who has remembered it? Does it begin with “evam me sutam”?
–>explain the location (google maps and images are helpful, as are maps of the 16 janapadas)
–>explain the people. Who is giving the teaching? Who is being addressed? Do these people have some biodata? What occasion prompted the teaching? When did it occur in the Buddha’s career? Was there a particular lunar date?
→ explain the language. Is it prose or verse? What is the structure? Is there a metre? Are there any words that are difficult on a linguistic level?
→ explain the similes and language features: what does each element of the simile mean? Are there any rhetorical or mnemonic devices or oral features of the text?
→ is this a text with a straightforward meaning, or a symbolic text that requires further explanation or an esoteric explanation? E.g. like the Buddha’s birth story?
–>explain the contents. Are there any core concepts or words that can be picked out for further explanation?
→ explain the conclusion: did the recipient of the teaching go for refuge? Or not?
→ give doctrinal exegesis: how does this teaching fit into the path of awakening as a whole? Are there any doctrinal points that could be confusing, or where people have disagreed? How can we make it easier for people or for ourselves to approach this in a gentle way?
Because my degree was in religious studies, I like to give some sociological, historical or philosophical context, too. If a text goes on to have a varied life in later Buddhist philosophy, it might be relevant. But not always.
If you are studying the text in the original language, I know some people who like to create a glossary for that individual text. There are probably ways to transform the text into a wordlist but I’m not that advanced lol. I would imagine that being “all over” the Pali would help: there are so many great resources like the CSD search function, the Cone dictionary, the PTS dictionary, etc etc…
To make a book recommendation, this is one of my favourite books on the development of vernacular “sanna” literature and its role in monastic education in the Theravada world: Gathering Leaves and Lifting Words
Would recommend any of Justin McDaniel’s work in general- the book explains “lifting words” as a traditional Theravada method of exegesis.
I also like to talk about suttas in a group or with friends, especially from diverse Buddhist backgrounds, as they will often have their own traditions about a text or doctrine. I felt that going to India also helped, as it’s easy to sometimes share an image of the place to give context.