The Qur'aan has been revealed to guide man in his affairs in this life so that he will be beloved to Allaah سبحانه و تعالى and guided to Allaah's mercy and paradise in the Hereafter.
The Qur'aan is part of that guidance that Allaah سبحانه و تعالى has sent to mankind that is referred to in the following verse:
"For whosoever shall follow My guidance, there shall be no fear on them nor shall they grieve. As for the disbelievers and those who belie Our signs, they are the inhabitants of the Fire wherein they shall abide." (Sooratul-Baqarah, 2:38-39)
The reward for following the Qur'aan is, as Sayyiduna 'Abdullaah Ibn 'Abbaas رضي الله عنهما stated, that the person will not go astray in this world nor will he be miserable in the Hereafter. The person will not have to fear about what he is about to face nor shall he grieve concerning what occurred in the past. The Qur'aan is noor (a light) as mentioned earlier. However, the one who refuses to follow that light will be rewarded with naar (Fire).
Similarly, Sayyiduna 'Abdullaah Ibn 'Abbaas رضي الله عنهما stated, "Allaah سبحانه و تعالى guaranteed for whoever reads the Qur'aan and acts upon it that he shall never go astray in this life nor will he suffer misery in the next life." Then he read the following verses,
"And if there should come to you guidance from Me - then whoever follows My guidance will neither go astray [in the world] nor suffer [in the Hereafter]. But whosoever turns away from My Reminder, verily, for him is a life of hardship, and We shall raise him up blind on the Day of Resurrection. He will say: "O my Lord! Why have you raised me up blind, while I had sight (before)." [Allaah] will say, "Thus did Our signs come to you, and you forgot them; and thus will you this Day be forgotten."" (Soorah Taa Haa, 20:123-126) 
That is, whoever turns to the Qur'aan sincerely, learns it correctly and applies it in his life, follows the straight path blessed by Allaah سبحانه و تعالى in both this life and the Hereafter.
Allaah سبحانه و تعالى also says,
"Verily, this Qur'aan guides to that which is most just and right and gives glad tidings to the believers, who work deeds of righteousness, that they shall have a great reward (Paradise). And that those who believe not in the Hereafter, for them We have prepared a painful torment (Hell)." (Sooratul-Israa', 17:9-10)
The believing and following of this Qur'aan is the key to Allaah's mercy. Allaah سبحانه و تعالى says,
"And this is a blessed Book (the Qur'aan) which We have sent down, so follow it and have Taqwa of Allaah,  that you may receive mercy." (Sooratul-An'aam, 6:155)
The Messenger of Allaah صلى الله عليه وسلم said about the Qur'aan, "The Qur'aan is an intercessor whose intercession is accepted and a litigant who is believed. For the one who places it in front of him [being guided by it], it will lead him to Paradise. And for the one who places it behind him [ignoring its guidance], it will drive him to the Hell-Fire." 
Imaam an-Munaawi رحمه الله, while commenting on this hadeeth, stated that if a person is not leading his life by the guidance and principles found in the Qur'aan, he must be leading his life by some other principles. Hence, he is deserving of the Hell-Fire. On the other hand, if he is abiding by the Qur'aan, the Qur'aan will lead him to Paradise. 
In another hadeeth, the Prophet صلى الله عليه وسلم described how the Qur'aan will come to the aid of those who acted according to it in this life. The Prophet صلى الله عليه وسلم said, "The Qur'aan will be brought on the Day of Resurrection along with its people who used to act according to it with Sooratul-Baqarah and Soorah Aali 'Imraan preceding them. They are like two clouds or two black canopies with light between them or like two flocks of birds in ranks pleading for the one who recited them." 
The Prophet صلى الله عليه وسلم said, "It will be said to the companion of the Qur'aan, 'Read, ascend and recite as you recited in the world, for your place will be at the end of what you used to recite.'" 
In Sooratul-An'aam, verse 92, Allaah describes the Qur'aan as blessed in a comprehensive sense. Indeed, its blessings are continual and perpetual for the one who earnestly and sincerely seeks them. It blesses the person while he is in his grave by protecting him from punishment therein. 
And it blesses the person in the Hereafter by coming as an intercessor and pleading for the one who read and lived by it. Indeed, it blesses the person by elevating his rank in the Hereafter.  
 According to Imaam al-Hasan رحمه الله, the meaning of "My guidance" in this verse is specifically the Qur'aan. See Imaam Ibn Katheer رحمه الله: Tafseer al-Qur'aan al-'Adheem, p. 63
 Quoted in Imaam Ibn Abil-'Izz رحمه الله: Sharh 'Aqeedah at-Tahaawiyyah (Beirut: Muassasat ar-Risaalah, 1988), vol. 1, p. 9.
 See: Fear Allaah Wherever You Are (Taqwa) - http://www.muftisays.com/forums/12-virtues/7703-fear-allah-wherever-you-are-taqwa.html
 Recorded by Imaam Ibn Hibaan رحمه الله and Imaam al-Bayhaqi رحمه الله on the authority of Sayyiduna Jaabir رضي الله عنه and also recorded by Imaam at-Tabaraani رحمه الله and Imaam al-Bayhaqi رحمه الله on the authority of Sayyiduna 'Abdullaah Ibn Mas'ood رضي الله عنه. According to Shaykh al-Albaani رحمه الله and Shaykh 'Abdul Qaadi al-Arna'oot رحمه الله, it is saheeh. Shaykh al-Huwaini states that this is narrated as a statement of Sayyiduna 'Abdullaah Ibn Mas'ood رضي الله عنه through saheeh chains but as a narration of the Prophet صلى الله عليه وسلم there is some strong weakness to it. On the other hand, Shaykh Musfir al-Ghaamdi concludes that even if it is a statement of Sayyiduna 'Abdullaah Ibn Mas'ood رضي الله عنه, it is considered as having its source with the Prophet صلى الله عليه وسلم.
In sum, it is either an acceptable hadeeth of the Prophet صلى الله عليه وسلم or a statement of Sayyiduna 'Abdullaah Ibn Mas'ood رضي الله عنه, one of the noble Companions رضي الله عنهم. If it is the latter case, one could argue that is must have originated wih the Prophet صلى الله عليه وسلم. In any case, from the discussion of the above scholars, it seems that the stronger opinion is that is a hadeeth of the Prophet صلى الله عليه وسلم and not a statement of Sayyiduna 'Abdullaah Ibn Mas'ood رضي الله عنه. Allaah knows best.
Cf., Shaykh Muhammad Naasirud-Deen al-Albaani رحمه الله, Silsilatul-Ahaadeethis-Saheehah (Riyadh: Maktab al-Ma'arif, 1991), vol. 5, pp. 31-32; Shaykh 'Abdul Qaadir al-Arna'oot رحمه الله, "Introduction" to Imaam Ismaa'eel Ibn Katheer رحمه الله, Tafseer al-Qur'aan al-'Adheem (Riyadh: Daarus-Salaam, 1998), p. 9; Shaykh al-Huwaini's footnotes to Imaam Ibn Katheer رحمه الله, Kitaab Fadaa'il al-Qur'aan, pp. 281-282; Shaykh Musfir al-Ghaamdi's footnotes to Shaykh Muhammad adh-Dharees, Fadaa'il al-Qur'aan (Daar Haafidh, 1988), pp. 105-107.
 Imaam 'Abdur-Ra'oof al-Munaawi رحمه الله, Faydul-Qadeer Sharh al-Jaami'us-Sagheer (Beirut: Daarul-Ma'rifah, 1972), vol. 4, p. 535.
 Recorded by Imaam Muslim رحمه الله.
 Recorded by Imaam Ahmad رحمه الله, Imaam at-Tirmidhi رحمه الله, Imaam Abu Dawood رحمه الله and others. According to Shaykh Ahmad Shaakir رحمه الله and Shaykh al-Albaani رحمه الله, its chain is saheeh. See Shaykh Ahmad Shaakir رحمه الله, footnotes to Imaam Ahmad Ibn Hanbal رحمه الله, al-Musnad (Cairo: Daarul-Hadeeth, 1995), vol. 9, pp. 388-389; Shaykh al-Albaani رحمه الله, Saheeh Sunan Abee Dawood (Riyadh: Maktabah at-Tarbiyyah al-Arabi li-Duwal al-Khaleej, 1989), vol. 1, p. 275.
 It was narrated that Sayyiduna Abdullaah Ibn Mas'ood رضي الله عنه said: "Whoever reads Sooratul-Mulk every night, Allaah سبحانه و تعالى will protect him from the torment of the grave. At the time of the Messenger of Allaah صلى الله عليه وسلم we used to call it al-maani'ah (that which protects)." Narrated by Imaam an-Nasaa'ee رحمه الله 6/179; classed as hasan by Shaykh al-Albaani رحمه الله in Saheeh al-Targheeb wat-Tarheeb, 1475.
 Cf., Shaykh Muhammad ar-Raawi, Hadeethil-Qur'aan 'anil-Qur'aan (Riyadh: Maktabah al-Ubaikaan, 1994), p. 119.
 How to Approach and Understand the Quran, pp. 48-54.