For over ten years now I have found the Church of England's lectionary an invaluable source of support and sustanance in my walk with God.
I use the lectionary in a number of ways - and these have evolved over the years:
1. It alerts me to any festivals or commemorations that are coming up - I find this helps me consider the lives of famous saints and Holy men and women who came before me. For instance, without the lectionary I would know nothing of the martyrs of Papua New Guinea, or Hugh of Lincoln, or the Venns. All of these are examples of Holy living and my life is richer for knowing about these.
2. As I lead worship and prayers of intercession, it is helpful to know in advance what the readings will be in a season, or for a particular service.
3. It guides my daily devotions.
For the uninitiated, the lectionary basicially has a week to a page. And there are three columns: Main office, Morning Prayer, and Evening Prayer (On Sundays these columns are headed: Main Service, Third service, and Second service (Yes...in that order).
So on a Sunday the Main office is usually the morning service, the second service column is used for any evening services, and the third service is available for anything else - Morning prayer for example.
In conjunction with the Daily Prayer liturgy, the weekly readings shape my daily devotions. I read the Main Office when I first get up (these tend to be quite brief - so without being indelicate - I tend to read these on the toilet). I then try to have a quiet time in the morning using the morning prayer readings.
I should be honest and warn people however, that it can easily and quickly become a rather legalistic endeavour, so you must relax and enjoy the framework - it's not a prison. For many people more guided daily notes might be required, but I find when the readings are used with a good Bible study/journalling technique the passages can quickly be understood.
The other chief advantage to using the lecitonary is that over a three year period you could read the whole Bible - even the odd bits like Song of Songs, Nahum, Obadiah and Lamentations!
I commend the lectionary as a valuable aid to a person's walk with God.