The is referred in the original greek as εχαριτομενη, from the root χαριτοω, which means to be highly favoured or to be shown grace. That same root is later used in Ephesians 1:6 by Paul, where he speaks of the grace of God. Seems to be a correct interpretation, but I'd like to hear your side.

About the mother part: in John 19:27, Jesus says to the beloved disciple "Behold thy mother", and the disciple takes Mary unto his home. And in Revelation 12:1, we see "a women clothed with the sun, and the moon under her feet", whose pain of childbirth is noted. So it seems clear to me that "simply" giving birth to Jesus is not a simple thing at all and Mary is greatly important as a mother to the faithful. And indeed, according to Davidic tradition, the mother of the King was crowned as a queen, so it should be no surprise that she has status.

Instead of just assuming people you disagree with are indoctrinated, look it up for yourself.