That was good, Steve.
I wanted to add this by Louis Berkhof which answers those same things.
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Necessary Distinctions Respecting the Law and the Gospel

a. As was already said in the preceding, the distinction between the law and the gospel is not the same as that between the Old and the New Testament. Neither is it the same as that which present day Dispensationalists make between the dispensation of the law and the dispensation of the gospel. It is contrary to the plain facts of Scripture to say that there is no gospel in the Old Testament, or at least not in that part of the Old Testament that covers the dispensation of the law. There is gospel in the maternal promise, gospel in the ceremonial law, and gospel in many of the Prophets, as Isa. 53 and 54; 55:1-3, 6-7; Jer. 31:33, 34; Ezek. 36:25-28. In fact, there is a gospel current running through the whole of the Old Testament, which reaches its highest point in the Messianic prophecies. And it is equally contrary to Scripture to say that there is no law in the New Testament, or that the law does not apply in the New Testament dispensation. Jesus taught the permanent validity of the law, Matt. 5:17-19. Paul says that God provided for it that the requirements of the law should be fulfilled in our lives, Rom. 8:4, and holds his readers responsible for keeping the law, Rom. 13:9. James assures his readers that he who transgresses a single commandment of the law (and he mentions some of these), is a transgressor of the law, Jas. 2:8-11. And John defines sin as "lawlessness," and says that this is the love of God, that we keep His commandments, 1 John 3:4; 5:3.

b. It is possible to say that in some respects the Christian is free from the law of God. The Bible does not always speak of the law in the same sense. Sometimes it contemplates this as the immutable expression of the nature and will of God, which applies at all times and under all conditions. But it also refers to it as it functions in the covenant of works, in which the gift of eternal life was conditioned on its fulfillment. Man failed to meet the condition, thereby also losing the ability to meet it, and is now by nature under a sentence of condemnation. When Paul draws a contrast between the law and the gospel, he is thinking of this aspect of the law, the broken law of the covenant of works, which can no more justify, but can only condemn the sinner. From the law in this particular sense, both as a means for obtaining eternal life and as a condemning power, believers are set free in Christ, since He became a curse for them and also met the demands of the covenant of works in their behalf. The law in that particular sense and the gospel of free grace are mutually exclusive.

c. There is another sense, however, in which the Christian is not free from the law. The situation is quite different when we think of the law as the expression of man's natural obligations to his God, the law as it is applied to man even apart from the covenant of works. It is impossible to imagine any condition in which man might be able to claim freedom from the law in that sense. It is pure Antinomianism to maintain that Christ kept the law as a rule of life for His people, so that they need not worry about this any more. The law lays claim, and justly so, on the entire life of man in all its aspects, including his relation to the gospel of Jesus Christ. When God offers man the gospel, the law demands that the latter shall accept this. Some would speak of this as the law in the gospel, but this is hardly correct. The gospel itself consists of promises and is no law; yet there is a demand of the law in connection with the gospel. The law not only demands that we accept the gospel and believe in Jesus Christ, but also that we lead a life of gratitude in harmony with its requirements.

The Threefold Use of the Law

It is customary in theology to distinguish a three-fold use of the law.

The Three Defined. We distinguish:

a. A usus politicos or civilis. The law serves the purpose of restraining sin and promoting righteousness. Considered from this point of view, the law presupposes sin and is necessary on account of sin. It serves the purpose of God's common grace in the world at large. This means that from this point of view it cannot be regarded as a means of grace in the technical sense of the word.

b. A usus elenchticus or pedagogicus. In this capacity the law serves the purpose of bringing man under conviction of sin, and of making him conscious of his inability to meet the demands of the law. In that way the law becomes his tutor to lead him unto Christ, and thus becomes subservient to God's gracious purpose of redemption.

c. A usus didacticus or normativus. This is the so-called tertius usus legis, the third use of the law. The law is a rule of life for believers, reminding them of their duties and leading them in the way of life and salvation. This third use of the law is denied by the Antinomians.
whole page here: http://www.presenttruthmag.com/archive/X/10-4.htm