I used to think that the whole Bible was put together to be a complete guide for us. I taught this same view to many others over the years. Sure, I still highly value all Scripture. In particular, the Old Testament has significant insights into God and human nature, tremendous and rich history, a huge volume of examples and "non-examples" of what to say and do, and foundational context to understand the New Testament. But I simply don't think I can support seeing it as a source of direction and authority for how Christians are to live.
With some simple church friends, we recently took a journey through the Old Testament, tracing the story of the Hebrews throughout the centuries. My daughter is working on a website that chronicles some of the lessons from this time that we all spent together. To say that the Old Testament is not important to me or my family would be grossly mischaracterizing what I am saying about Scripture. It is an essential narrative to His-story.
But...it is not essential for salvation. It is not essential to know how to follow Jesus. It is not essential for obedience to Christ, nor is it a pathway for life for the believer. The genuine follower today needs only to be obsessed with one thing - Jesus of Nazareth!
If I had to choose between my daughter knowing all the laws and commands of Moses and Israelite history inside and out, or knowing nothing but Jesus Christ and Him crucified, it would be a no-brainer! (1 Corinthians 2)