Why is grace so important?

I am sure people get fed up of me banging on about grace all the time as if there were no other important principles within the Christian life to focus on. But let me make it clear - Grace IS the focus of the new covenant and it shares no equal status with anything! But why? Because the new covenant is all about what Jesus has already accomplished on our behalf, it's about his work and how he has brought us into everlasting right standing with God. He alone has qualified us to be in the God class forever, we are seated with him at the right hand of the father and that is where we will remain, so would you agree that grace being undeserved favour is the nature of the new covenant? Did you deserve all that? Er.. no.
Deserved favour has no part in this relationship, it will actually prevent us from enjoying the benefits of what Christ accomplished, it's what Paul refers to as 'falling from grace' grace therefore is the high ground and works (deserved favour) is the low ground. There is nowhere to go with self effort in the new covenant other than downwards! so do you see why grace must be continually emphasized? Super abundant grace is continually being poured out upon us from our loving heavenly father and our response is simply to receive it. But if we are not grace focused we naturally will be works focused and we will not allow ourselves to receive it thereby frustrating the grace of God that seeks to deliver us, heal us, prosper us and protect us.