1) Does it mean if I commit shirk right now, I will never enter paradise?
or
2) Does it mean if I die in the state of shirk, I will never enter paradise?
In my opinion, it should mean the second one. Because if it's the first one, that would mean that after a person commits shirk, there is no point in being a good person (since he/she will go to hell anyways)
Here's some of what is written on this matter:
Say, "O My servants who have transgressed against themselves [by sinning], do not despair of the mercy of Allah. Indeed, Allah forgives all sins. Indeed, it is He who is the Forgiving, the Merciful." -- Qur'an 39:53
This includes all sins, even shirk. Whoever repents, Allaah will accept his repentance. Islam Q&A fatwa 34171, 2004
...if one repents from Shirk whether small Shirk or major, Allaah will forgive him and accept his repentance. -- IslamWeb fatwa 89591, 2005
Hence we must repent from all kinds of shirk, whether it is major shirk or minor shirk. If a person repents sincerely then Allaah will accept his repentance and forgive him his sins. -- Islam Q&A fatwa 20482, 2009
If a person repents from sin, Allah will forgive him, whether it was shirk or otherwise -- Islam Q&A fatwa 177990, 2012
If the person falls into this sin of shirk, then he is a kafir and he has to come back into Islaam for a second time, and he has to make tawbah (seek repentance). But he should realise that Islaam wipes what came before it. -- Shaykh `Abdus Salaam al-Burjis, FatwaIslam.com article AQD01004
They have certainly disbelieved who say, " Allah is the Messiah, the son of Mary" while the Messiah has said, "O Children of Israel, worship Allah , my Lord and your Lord." Indeed, he who associates others with Allah - Allah has forbidden him Paradise, and his refuge is the Fire. And there are not for the wrongdoers any helpers. -- Qur'an 5:72
(among others, e.g. 25:68)
He who dies invoking an equal to Allah (the Exalted) regardless of Allah (the Exalted), will definitely be admitted into Hell-Fire. -- hadith narration attributed to Al-Bukhary, in Fath al-Majeed, (pdf, p. 91)
Indeed, Allah does not forgive association with Him, but He forgives what is less than that for whom He wills. And he who associates others with Allah has certainly fabricated a tremendous sin. -- Qur'an 4:48
But if the person dies while on his Shirk, Allah does not forgive him if it is a major Shirk. But if it is a minor Shirk, then Allah might forgive him or He might punish him for it. -- IslamWeb fatwa 85083, 2002
Hence, Allah (Exalted be He) will not forgive those who commit this type of Shirk and die without repentance. -- Ibn Baz, fatwa (source)
Allah Does not Forgive Shirk, Except After Repenting From it -- attributed to Ibn Kathir by qtafsir.com
Ofcourse it means the second , otherwise the SAHABA the prophet's companions will not enter paradise ,because before islam they were at shirk. The aya means that in the day of judgment Allah will not forgive shirk and would forgive other than that on his will subhanahu we taala and he is the most kind and mercifull. In islam a person is counted on his present status regarding to his belief which i mean if a person is a true believer MU'MIN and was in past doing shirk he will be counted as he didn't done shirk ever from the time of his repentance.
