"But now, by dying to what once bound us, we have been released from the law so that we can serve in the new way of the Spirit, and not in the old way of the written code." NIV
"But now we are delivered from the law, that being dead wherein we were held; that we should serve in newness of the spirit, and not in the oldness of the letter."KJV
The law is not dead, but we are dead to the law, no longer struggling to conform to the complex written rules. That can be done with no emotion or thought of God at all. When we are born again with Christ through His resurrection, we are bound to Him and the Spirit puts in our hearts the new life of walking in the Spirit. The freedom this brings is far more than any freedom a written law can deliver. Being bound to Christ, we walk freely with Him and what a joy. In so doing, we will not break one tiny part of the law. But we can only do this by no longer living by the law, but being made alive in the Spirit. It's a new way, because the old law was lacking something, life! Jesus Christ came and brought life to it. He fulfilled it and we are free.
Heavenly Father, how we thank You for the great gift of salvation that delivers us from living by the law, but gives us freedom to walk in Your Spirit with joy and gratitude in our hearts. Help us to remember this great and perfect gift to us every day. In Jesus' name, Amen.