Bound by it? You just admitted that there are many laws in the Torah that you don’t live by. Not to mention, there remains discrepancies amongst Reformed, Conservative, and Orthodox Jews over what exactly is necessary. So, to say there is “wiggle room” might be the understatement of the century. You are still relying on each person’s subjective interpretation. There is no governing body. There are no prophets to clarify. In this way, it is much like Protestantism. Judaism has abandoned it’s roots of Tradition, and is now largely autonomous from person to person.
And the fact that you do not see the significance of the loss of the temple makes me question how much you have really read in the OT. Maybe you have been listening to too many Jewish apologetic tapes (Rabbi Tovias). Judaism was a religion, in the Torah, that centered on covenant and sacrifice. Animal sacrifice was central. If it has ceased to play a part in the religion, by what objective standard was this changed? What prophet came to say that it was no longer necessary to atone for sins through animal sacrifice? And if you say that it was the destruction of the temple that led Jews to abandon such a practice, how can this not be significant? Is it merely coincidence that Jesus prophesied such an event occurring within a “genea” (generation= roughly 40 years) of his death? Is it irrelevant that Judaism has not had a temple in nearly 2000 years since? I think you are sorely underestimating the impact this had on Judaism. It changed the very nature of Judaism.