Hare Krishna Prabhujis and Matajis,
Please accept my humble obeisances! All glories to Srila Prabhupada and Srila Gurudev!
SB verse 1.3.40 sums up very nicely the importance of Srimad Bhagavatam:
idaṁ bhāgavataṁ nāma purāṇaṁ brahma-sammitam
uttama-śloka-caritaṁ cakāra bhagavān ṛṣiḥ
niḥśreyasāya lokasya dhanyaṁ svasty-ayanaṁ mahat
This Śrīmad-Bhāgavatam is the literary incarnation of God, and it is compiled by Śrīla Vyāsadeva, the incarnation of God. It is meant for the ultimate good of all people, and it is all-successful, all-blissful and all-perfect.
Srila Prabhupada explains the purport of this verse very nicely:
'Lord Sri Caitanya Mahaprabhu declared that Srimad Bhagavatam is the spotless sound representation of all vedic knowledge and history. There are selected histories of great devotees who are in direct contact with the Personality of Godhead. Srimad Bhagavatam is the literary incarnation of Lord Krsna and therefore is non different from Him. Srimad Bhagavatam should be worshiped as respectfully as we worship the Lord. Thereby we can derive the ultimate blessings of the Lord through its careful and patient study (PS: This is the point our Gurudev has always stressed very strongly). As God is all light, all bliss and all perfection, so also is Srimad Bhagavatam. We can all have the transcendental light of the Supreme Brahman Sri Krsna from the recitation of Srimad Bhagavatam, provided it is received through the medium of the transparent spiritual master. Lord Chaitanaya's private secretary Srila Svarupa Damodar Goswami advised all intending visitors who came to see the Lord at Puri to make a study of the Bhagavatam from the person Bhagavatam. Person Bhagavatam is the self-realised bonafide spiritual master, and through him only can one understand the lessons of Bhagavatam in order to receive the desired result. One can derive from the study of the Bhagavatam all benefits that are possible to be derived from the personal presence of the Lord. It carries with it all the transcendental blessings of Lord Sri Krsna that we can expect from His personal contact'.
All glories to Granthraj Srimad Bhagavatam and all glories to our Gurudev who brings this most precious message to us fallen souls.
Your humble servant,
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