because I obey Your precepts.
I am not a fan of the Holman Christian Standard Bible, but this verse is spot on.
David is not boasting in a prideful way as it might seem on the surface. He is exalting the Word of God. Thank about it. Would you rather:
a) Learn the hard way through struggle and, possibly, punishment for sin, or
b) Learning ahead of time from studying the Word of God?
How many difficult situations could have been softened or even avoided (!) if you and I had heeded the warning or precept that speaks directly to that situation?
Or put it another way:
There is the option of learning from the examples of others.
You don't have to repeat the poor decisions others have had to pay for.