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This has been previously addressed. this post Focus on the changing of the Administrator of the New Covenant, not the Covenant alone without the Mediator. This scripture you quote is focusing on the difference of the Priest that administrates the Word of God within the Covenant.
No longer are we to judge ourselves based on how well we can keep the law. Christ has kept the law for us. Christ in us is our hope of Glory.
I don't have any problem with the law, just don't use it to determine your relationship with God. We are to put our faith in Jesus and him alone. That doesn't mean however that we then become law breakers. The Spirit within us leads into righteous living.
I actually don't need to even study the law or know all it's precepts. All I really have to do is to love God and love my neighbor as myself and I will keep every law. The Holy Spirit will show me when I have done something wrong.