I believe Ray Stedman sums it up nicely in the following 2 paragraphs...
In him[Christ] you also, who have heard the word of truth, the gospel of your salvation, and have believed in him, were sealed with the promised Holy Spirit, which is the guarantee of our inheritance until we acquire possession of it, to the praise of his glory. (Ephesians 1:13-14 RSV)
Notice two things which are emphasized here which are always found together in Scripture -- the Word, and the Spirit. Both are absolutely essential. There is no salvation without both of these. These are the instruments by which God performs his work. It is always a mistake to emphasize one of these to the exclusion of the other. There are groups today who are doing this: Some say, "No, we don't need the Word. All we need is the Spirit's guidance within. All we need is simply to trust the feelings we have. God the Spirit is dwelling in us and he will lead us." But whenever a group does that, they follow the pattern of similar groups in the past, and it invariably results in impractical ideas, in mysticism, in fanaticism, in rigid, hard-eyed determinism, and in individualism -- everybody going his own way and doing his own thing. Utter confusion results if you set aside the Word and try to follow only the Spirit.
On the other hand there are those who try to follow the Word alone. On my recent trip around the country I visited several churches in which it was evident that they had lost all the freshness and vitality of the Spirit and had been reduced to mechanical, orthodox, perfunctory performance of the Word. They were orthodox to the core, but there was no life. They were sterile and dull and lifeless. This is what results when you try to adhere to the Word without the Spirit. It results in dry, mechanical services which only go through a certain form, a ritual observance, and the people go home deadened and dried up. It results in a kind of clenched-teeth piety in which the people resolve that they are going to "do their duty" as Christians, but there is no motivation, no hunger, no satisfaction, no love, no warmth, no joy, no life. But in Scripture you always find the two together. The Word is interpreted by the Spirit, and the Word becomes fresh and vital as you look to the Holy Spirit to make Jesus Christ step out of the pages and stand in your presence in living flesh. You feel the heartbeat of the human Lord who walked here on earth. It is the job of the Spirit to do that, and you never should come to the Bible without asking him to take these words and make them come alive.
The entire article can be found at <http://www.raystedman.org/new-testament/ephesians/the-word-and-the-spirit>