For the general public I feel I ought to insert a note or two about what is important about Gemara.

The basic importance of the Talmud is in two areas. Numinous value and moral value. The way I understand this is basically through the school of thought of Plato,Why I am a Platonist --friesian.com and  Kant,.[]  I should mention  that even Maimonides is somewhere in between Aristotle and Plato and Plotinus the Platonist. So in terms of would view and a good consistent way to evaluate moral issues, the Talmud is important. It also does give a rather spiritual path. And it has the advantage of being a logical rigorous explanation of the Written Law{Torah}.
There is also a philosophical advantage to the Torah and Talmud. This has to do with Western Civilization, and in particular the USA. Right now, it is a bit difficult to find a rational justification of either. In my view, the Talmud provides a way out of the modem political dilemma. I would have to find time to go into this another time.