Understanding the Old Testament: Reading Someone Else's Mail

Often, Christians have difficulty understanding and applying the Old Testament. It seems so far removed from our life today. After all, we don't worry about wearing clothes made of different materials or how we should shave biblically (Lev. 19). The New Testament writings seem so much easier to understand, in contrast. We can turn to them and receive instruction to apply to our lives in a more direct fashion. Or can we? In the same way I don't concern myself over biblical shaving, I don't ask my wife to wear a head covering (1 Cor. 11). (Although, some men would and I respect them for obeying their conscience.) The reason I don't do this is that I am not a member of the church of Corinth. This letter was not written directly to me. I must filter what it says in order to understand what it is saying to me today. Then, I must consider how to apply what I understand. The same is true with the Old Testament, isn't it? I am not a Jew living in that time. So, I must filter what it says in order to understand what it is saying to me today. Same method. I think this means that we shouldn't let studying the Old Testament become as intimidating as it seems to many Christians. Also, it should give us cause to pause as we interpret and apply the New Testament. Anyone else have any thoughts about this?