I could never express the power of God's word as well as His mouthpiece, President Benson, has:
"You must help the Saints see that studying and searching the scriptures is not a burden laid upon them by the Lord, but a marvelous blessing and opportunity. Note what the Lord Himself has said about the benefits of studying His word. To the great prophet-leader Joshua, He said:
"“This book of the law shall not depart out of thy mouth; but thou shalt meditate therein day and night, that thou mayest observe to do according to all that is written therein: for then thou shalt make thy way prosperous, and then thou shalt have good success.” (Josh. 1:8)
"The Lord was not promising Joshua material wealth and fame, but that his life would prosper in righteousness and that he would have success in that which matters most in life, namely the quest to find true joy. (See 2 Ne. 2:25.)
"Do you have members in your stakes whose lives are shattered by sin or tragedy, who are in despair and without hope? Have you longed for some way to reach out and heal their wounds, soothe their troubled souls? The prophet Jacob offers just that with this remarkable promise: “They have come up hither to hear the pleasing word of God, yea, the word which healeth the wounded soul.” (Jacob 2:8; italics added.)
"Today the world is full of alluring and attractive ideas that can lead even the best of our members into error and deception. Students at universities are sometimes so filled with the doctrines of the world they begin to question the doctrines of the gospel. How do you as a priesthood leader help fortify your membership against such deceptive teachings? The Savior gave the answer in His great discourse on the Mount of Olives when He promised, “And whoso treasureth up my word, shall not be deceived.” (JS—M 1:37; italics added.)
"The scriptures are replete with similar promises about the value of the word. Do you have members who long for direction and guidance in their lives? The Psalms tell us, “Thy word is a lamp unto my feet, and a light unto my path” (Ps. 119:105), and Nephi promises that feasting upon the words of Christ “will tell you all things what ye should do.” (2 Ne. 32:3.)
"Are there members of your flock who are deep in sin and need to pull themselves back? Helaman’s promise is for them: “Yea, we see that whosoever will may lay hold upon the word of God, which is quick and powerful, which shall divide asunder all the cunning and the snares and the wiles of the devil.” (Hel. 3:29.)"
Apparently (I need to find a/the source), the iron rod in Lehi's Dream - as it represents the word of God - is not necessarily a rod. Instead, like the woven structures of cords that hold bridges together, President Packer and/or Elder Bednar suggested that the iron rod is mainly comprised of three strongly interwoven cords.
The three cords represent the following:
• The word of God given to us through His living prophets.
• The word of God as we have it recorded in scripture, from past prophets.
• The word of God as received through personal revelation.
Before making a decision of great magnitude in life, ensure to the best of your ability that it is in harmony with the three mediums through which God gives His word.
Here are three quotes that emphasize the importance of each medium.
Spencer W Kimball on the medium of living prophets:
"The membership of the Church will always be safe if they follow closely the instructions and admonitions and the leadership of the authorities of the Church."The authorities which the Lord has placed in his Church constitute for the people of the Church a harbor, a place of refuge, a hitching post, as it were. No one in this Church will ever go far astray who ties himself securely to the Church Authorities whom the Lord has placed in his Church. This Church will never go astray; the Quorum of the Twelve will never lead you into bypaths; it never has and never will. There could be individuals who would falter; there will never be a majority of the Council of the Twelve on the wrong side at any time. The Lord has chosen them; he has given them specific responsibilities. And those people who stand close to them will be safe. And, conversely, whenever one begins to go his own way in opposition to authority, he is in grave danger. I would not say that those leaders whom the Lord chooses are necessarily the most brilliant, nor the most highly trained, but they are the chosen, and when chosen of the Lord they are his recognized authority, and the people who stay close to them have safety."
(Teachings of Presidents of the Church: Spencer W Kimball, Ch 23.)
The Lord, Jesus Christ on the medium of past prophets/current scripture:
"This book of the law shall not depart out of thy mouth; but thou shalt meditate therein day and night, that thou mayest observe to do according to all that is written therein: for then thou shalt make thy way prosperous, and then thou shalt have good success."
(As quoted above, Joshua 1:8.)
The Prophet Joseph Smith on the medium of personal revelation:
“Tell the people to be humble and faithful and [be] sure to keep the Spirit of the Lord and it will lead them right. Be careful and not turn away the small still voice; it will teach [you what] to do and where to go; it will yield the fruits of the kingdom. Tell the brethren to keep their hearts open to conviction so that when the Holy Ghost comes to them, their hearts will be ready to receive it. They can tell the Spirit of the Lord from all other spirits. It will whisper peace and joy to their souls, and it will take malice, hatred, envying, strife, and all evil from their hearts; and their whole desire will be to do good, bring forth righteousness, and build up the kingdom of God. Tell the brethren if they will follow the Spirit of the Lord they will go right.”
(Teachings of Presidents of the Church: Joseph Smith, p. 98).