What is Meditation?

In Psalm 1, the wise man's "delight is in the law of the Lord, and on his law he meditates day and night." What does it mean to meditate on God's word?

If You Know How to Worry, You Know How to Meditate:

"Meditation is simply focused thinking - a skill anyone can learn and use anywhere. When you think about a problem over and over in your mind, that’s called worry. When you think about God’s Word over and over in your mind, that’s meditation. If you know how to worry, you already know how to meditate. You just need to switch your attention from your problems to God’s promises. The more you meditate on Scripture and pray God’s Word back to Him, the less you’ll have to worry about." -Rick Warren

The Holy Spirit Teaches Us as We Prayerfully Meditate on God's Word:

"Think over what I say, for the Lord will give you understanding in everything." -II Timothy 2:7

"But the anointing that you received from him abides in you, and you have no need that anyone should teach you. But as his anointing teaches you about everything, and is true, and is no lie--just as it has taught you, abide in him." -I John 2:27

A Prayer to Pray As You Meditate on Scripture:

"Deal bountifully with your servant, that I may live and keep your word. Open my eyes, that I may behold wondrous things out of your law." -Psalm 119:17-18

The Importance of Meditation - Chewing the Cud:

"Merely reading, hearing, and having transient thoughts of biblical truths do not leave half the impression of goodness upon the soul, which they would do, if they might be recalled, and fixed there by serious thought.  Without this meditation, the good food of the soul passes through the understanding, and either is quite lost, or is like raw and undigested food, which does not nourish those creatures that chew the cud, until they have retrieved it back and chewed it better.  Meditation is the Christian's way of chewing the cud. All outward means of salvation do little good in comparison, except that by meditation they are thoroughly considered, and laid up in the heart...Meditation digests, engrafts, and turns the spiritual knowledge gained from the God's Word...into the very life and substance of the soul, changing and transforming you according to it, so that God's will as revealed in the Bible and your will become one, so that you choose and delight in the same things as he does."  -Henry Scudder (as quoted in Lou Priolo's Pleasing People: How Not to Be an Approval Junkie)