Does the Holy Spirit supersede Scripture? If so, why do we continue to read it and does it really have value for us, today?
Two things come to mind.
First, when Paul encouraged Timothy about the value of Scripture, he was referring to the writings of the Tanakh (Jewish Bible, Old Testmaent). Not one New Testament epistle, prophetic word or gospel account had yet been declared “Scripture”.
Second, Jesus Himself demonstrated that the most important thing to share with others was the Old Testament Scriptures. On the Emmaus Road, “[And] beginning at Moses and all the Prophets, He expounded to them in all the Scriptures the things concerning Himself.” (Luke 24:27)
Based on this, I think it is very fair to say that the value of Scripture is the revelation of Jesus Christ. If we read Scripture, if we see Jesus, the Christ, in its pages it will be profitable. “You will keep him in perfect peace whose mind is stayed on You, because he trusts in You.” (Isaiah 26:3).
Oswald Chambers says it this way, “And as long as our eyes are focused on our own personal holiness, we will never even get close to the full reality of redemption. Christian workers fail because they place their desire for their own holiness above their desire to know God. “Don’t ask me to be confronted with the strong reality of redemption on behalf of the filth of human life surrounding me today; what I want is anything God can do for me to make me more desirable in my own eyes.” To talk that way is a sign that the reality of the gospel of God has not begun to touch me. There is no reckless abandon to God in that. God cannot deliver me while my interest is merely in my own character. Paul was not conscious of himself. He was recklessly abandoned, totally surrendered, and separated by God for one purpose— to proclaim the gospel of God (see Romans 9:3)”. (My Utmost for His Highest, January 31st)
Look to God. Look at God. See Him in the words of the Scripture. Allow the Spirit within you to reveal Him to you. Think (meditate) on all these things. Experience the profitability. Walk in the fruit. Repeat.