Such communion with the Lord through His Word does eight things as shown in the following eight verses taken from Psalm 119:129-136:

1. Wonder leads to obedience: (v. 129 – Your testimonies are wonderful; therefore, my soul keeps them).  It comprehends the wonderfulness of God’s Word and as a result causes David (the Psalmist) to observe (obey) its testimonies. People obey God’s Word for different reasons. Some out of fear, punishment, wanting blessings, etc. But when we see the beauty and wonder of the Scriptures, we also begin to understand the ugliness of sin and the cheapness of the what the world has to offer. If we are not acquainted with God’s testimonies, it is a sign that we do not admire them.
2. Obedience leads to understanding: (v. 130 – The entrance of Your words gives light; It gives understanding to the simple). It involves the entrance (pētăh, opening, explanation, unfolding) of God’s words, giving light and understanding to the simple.  This light of the Word comes into our hearts and minds and brings spiritual insight and understanding (2 Corinthians 4:1-6).  The Word of God is the main means by which the Spirit of God enlightens the understanding of all that are sanctified. It provides light in a dark place. The word “entrance” is translated “unfolding” in some bible versions.  When Spirit-led teachers and preachers “open up” the Word, then the light of God’s truth shines forth and brings about spiritual transformation (2 Corinthians 3:18).
3. Understanding leads to deeper desire: (v. 131 – I opened my mouth and panted, for I longed for Your commandments). It develops an intense longing for God’s commandments (Job 29:23; Psalm 42:1). The psalmist panted, longed for God’s Word as a fainting person pants for water. When David had departed from the Word of God for a season, he longed to be restored to them again and when it happened, he greedily sucked in the Word of God as new-born babes desire the milk. For one in communion with God, the Word of God is the only thing that can really satisfy the deepest longings of the heart.  As a suffocating person pants for air or a thirsty person for water, so the child of God pants for the Word of God, and nothing else will satisfy.
4. Desire leads to love for God: (v. 132 – Look upon me and be merciful to me, as Your custom is toward those who love Your name). It gives understanding of God’s ways in grace. The Psalmist pleaded for a manifestation of that grace to him. Just as children long to share the love of their parents, so the child of God experiences God’s love through the Word. To love God’s name is to love God, for His name reveals all that He is. David does not ask for things from God’s hand, but only for pure mercy.
5. God’s love leads to guidance and freedom: (v. 133 – Direct my steps by Your word, and let no iniquity have dominion over me). It orders the believers life so that no iniquity overpowers him.  David prays that God will order his steps into the right way so that all his steps are under the guidance of God’s grace. Only when one’s steps are ordered (established) in the Word, is the power of sin broken in the life.  When we experience the love of God in our hearts, we keep His commandments (John 14:15), and obedience to His commandments sets us free from the slavery of sin (Romans 6:12-16).  Sin has no dominion over us. 
6. Freedom in Christ brings us God’s blessings: (v. 134 – Redeem me from the oppression of man, that I may keep Your precepts). It purifies and exalts human motives.  Deliverance from the oppression of man is that the Lord’s precept might be observed, but not for selfish reasons. We are also free from the oppression of people and the enslavement it can bring.  We are bought with a price and should not become slaves of men (1 Corinthians 7:23).  David prays for freedom from his enemies which were men, so that he would be free to worship God and keep His precepts.
7. God’s blessings mean God’s smiles: (v. 135 – Make Your face shine upon Your servant, and teach me Your statutes). It makes the favour and fellowship of God of paramount importance. God’s face shining upon His servant is supreme bliss and the proper spiritual climate to be taught God’s statutes. David asks not for corn and wine, for silver and gold, but asks; “make thy face to shine upon your servant.”  In other words, let me be accepted by you and let me know that I am so.  Comfort me with the light of your countenance in every dark and cloudy day.
8. Man’s rejection of God’s Word brings tears: (v. 136 – Rivers of water run down from my eyes, because men do not keep Your law). It produces loving concern about the condition of the lost. The Psalmist’s eyes sheds streams of tears over those who did not keep God’s Law. David weeps rivers of tears.  Usually, where there is a gracious heart, there is a weeping eye, in conformity with Christ, who was a man of sorrows and acquainted with grief. David wept not for his own troubles but for the dishonor done to God.