A very good word on grace from Paul Tripp via the Desiring God blog:
So grace is a story and grace is a gift. It is God’s character and it is your only hope. Grace is a transforming tool and a state of relationship. Grace is a beautiful theology and a wonderful invitation. Grace is a life-long experience and a life-changing calling. Grace will turn your life upside down while giving you a rest you have never known. Grace will require you to face your unworthiness without ever making you feel unloved.
Grace will make you finally acknowledge that you cannot earn God’s favor, and it will once and for all remove your fear of not measuring up to his standards. Grace will humble you with the fact that you are much less than you thought you were, even as it assures you that you can be far more than you had ever imagined. You can be sure that grace will put you in your place without ever putting you down.