Are you a New Testament believer?

Many Christians will say something like: "We don't follow the Old Testament. We are New Testament believers." But in the same breath they call themselves "blood-bought, Bible-believing Christians." Ironically, these kinds of Christians are often called "Bible Thumpers" and the joke isn't event accurate, for they only "thump" about a third of it ;)

Even if believers don't use the term "New Testament believer," the typical Christian belief is that the Law is passed away--and the Law, as discussed before, refers to what Christians call the Old Testament. But these same believers will quote Psalms (a book of the Old Testament) all the time. Consider these verses:

Psalm 40:8 - I desire to do your will, O my God; your law is within my heart." (NIV)

Psalm 119:7 - I will praise you with an upright heart as I learn your righteous laws. (NIV)

Psalm 119:39 - Take away the disgrace I dread, for The law from your mouth is more precious to me than thousands of pieces of silver and gold. are good. (NIV)

Psalm 119:72 - The law from your mouth is more precious to me than thousands of pieces of silver and gold. (NIV)

Psalm 119:97 - Oh, how I love your law! I meditate on it all day long. (NIV)

Only a few examples but isn't it interesting how the Law keeps getting referenced? Anyway, if someone says, "I am a Bible believer" doesn't that mean the entire Bible holds truth for his daily life?