It is excellent that you included the verses from both Psalm 119 and John 8 in this post, as they show such a clear link between the Old and New Testaments.  Many of the Psalms are understood as referring to Christ, especially since Christ is considered to be the fulfillment of the Davidic kingship.  The Psalmist says "Your word is a lamp to my feet and a light to my path," and Jesus fulfills that by saying "he who follows Me will not walk in the darkness, but will have the Light of life."

Interestingly, Jesus says those who follow him will *have* the Light of life.  That would suggest that we possess Him, or that He is always present to us.  I think we can also understand this in relation to the gift of the Holy Spirit.  When the Holy Spirit dwells within us, we have the same spirit that dwelt within and directed the soul of Jesus, and thus we share in His divine life.