Delight, ‘chephets,’ means will, desire, purpose of life, motivation, movement from within the soul.
Law, ‘towrah,’ means the fundamental principles, precepts, concepts, categories of thinking, knowledge, wisdom, truth. All of these flow from the root, ‘yarah,’ which means to flow as water flows in a river. All truth flows freely from God, in huge volumes.
Doctrine is the sum total of the content of the scriptures. The scriptures are the sum total of Gods truth and communication to us. In order to know them, you have to learn them. And in order to learn them, you have to commit yourself to the study of the scriptures. And in order to study them, you have to ‘want’ to study them.
Hence, the delight of the individual is in the desire, the motivation, the purpose of ones life, for learning what God wants us to learn and know.
And Bible doctrine is that knowledge. For on it sits your whole purpose and foundation for life. Without it, you have nothing.
Happiness is your ultimate objective in life. You will never find it in the things of this world. You will never find it in the opinions of this world. You will never find it nor possess it, unless you acquire it through the only legitimate mechanism which God has provided. Namely Bible doctrine.
These first two verses tell us what Gods objective is, for each one of us – happiness. And how to acquire it – desire for His Word.
The verses also tell us how we can miss out on happiness, and that is to ignore instruction, for that is what this is (instruction), and to pursue the teaching of the world rather than Gods teaching.
If you want to fail, then by all means ignore Bible study, ignore Bible instruction, and figure out life your own way, if you know better.
But to insure success, guaranteed success in life, in this life, and in eternity, then you must knuckle down and learn doctrine from instruction. No one can do it on their own, or in their own way (the arrogance of presuming that you are sufficient to yourself). You have to make doctrine an integral part of your daily thoughts and life.
Desire is a hunger, a powerful thirst. As one who has been out on the desert for a very long time, starving and dehydrated, and then comes upon a banquet. The power of the banquet table is overwhelming and impossible to resist. That is what your feelings should be, for doctrine.
God offers us all an infinite blessing package for life and eternity. Who really, really, really wants it?