The New Testament is just as much 'scripture' as the Old Testament, and in some sense we believe the Old Testament is scripture because the New Testament records our Lord's full attestation of its authority as such. Inspired works are nothing in comparison. Even my post could be inspired by God as Christian's often have inspired thoughts.
I think when people try to trace the overall idea of how scripture came to be believed as 'scripture' we forget the basic idea. God sent Prophets and later on Apostles to be his messengers, to deliver his word. Apostles were even greater 'messengers' with the oracles of God than Prophets. A greater covenant was under their instruction as infallible guides to the church. Early on in the Old Testament prophets, once established as credible, were not to be trusted blindly. Only but by testing the truthfulness of their words and prophecies as they continued to make them, would they be received. If they declared something as 'the word of the Lord' which was not true, they were to be stoned. (Deuteronomy 13:5)
As this is the introduction to the idea of someone with 'the word of the Lord', there was great seriousness in someone saying 'Thus saith the Lord' or speaking as though they were brining the 'very words of God'. Any misrepresentation was deadly. So we must start with this understanding that there was an idea of a Prophet, who was a messenger. He would speak in an authoritative manner as though his words were Gods because they were and God gave such a person unusual certainty and assurance with these words, removing all doubt. Not that every word they spoke (like 'pass the butter please') was God's word, but every word they delivered to the church as a guide and message.
I have actually never read anything describing in detail how our cannon came to be because it is actually not that important to me. I do want to, but for so many years now, just never got around to it. Why? Because at the highest level:
The scripture themselves alone have the authority to declare themselves to be so. No church council can determine what is scripture, they can only admit
after careful investigation what is self evidently declared within the scriptures themselves. These are tested and confessed to having authoritative and infallible revelation of God's mind with no contrary evidence to maintain reasonable dispute.
No matter what we canonize, the scripture will insert itself into our view and demand our obedience as it truly is the word of the Lord. God will not leave us without all that is necessary for life and salvation. I have read portions of letters claimed to be owning a right into the Protestant Bible, but have never sensed the pure authority of God in them. In fact It really puzzles me how carnal men must be to mot see the poor attitudes and doctrinal imperfections but so many so called inspired books that are possible additions to our cannon, argued by those who seem not able to recognize God's perfection in scripture.
Now for those books that the church has received (I am speaking from a Protestant view and cannon) a few things had to occur for the church to receive them as scripture. First, somebody claimed to be a Prophet, or even under a higher office, an Apostle, and their words were recorded by themselves or by others. Second, these words were sent out with an air of extreme importance and ultimate infallible authority. There are not many candidates meeting the first two criteria. Third, fake ones were tossed. They did not have the divine purity, power and truth in them as attested by the consciences of the church and which could be proven to others by contradicting something in scriptures already received. The three progressions occurred for all books in our Bible and no other writing, however inspired are included die to their obvious imperfection or lack of claim to be prophetic or apostolic in origin.
The notion that the Old Testament is the only scripture is absolutely inconsistent with the notion of an Apostle. It is like saying Prophets are great and God would have us collect their words and call them scripture, but those messengers even greater than Apostles, no, even the words of the Lord Jesus Christ himself, they are just 'inspired'? Nothing could be more ludicrous and in opposition to the concept of an Apostle. All scripture is equally scripture but if we had to rank different books, the New Testament would be more so simply from the height of the authority of the messengers and the level of brilliance and progression of the revelation.
On a more technical nature, once can trace the assumption of the New Testament being 'obvious scripture' and expect a direct argument never to be made. There was no direct argument in the Old Testament to receive the words of a prophet as scripture canonized in a little book called the Bible. It was common sense that the words of a prophet was from God and also common sense that the words of an Apostle was from God. This is spiritual common sense which requires no proof. It is like asking for proof that there is a God. He just is and his word says so.
For example in Acts we see the gospel is just assumed to be God's word, not just inspiration. The gospel as preached by the Apostles was always considered 'the word of the Lord', when written this became scripture by default. All one has to do is search the phrase and many passages in Acts appear:
The next Sabbath almost the whole city gathered to hear the word of the Lord. (Acts 13:44, NIV)
The word of the Lord is scripture as provided by Prophets or Apostles, or the Lord himself. Paul considered the message he delivered in his letters as 'the word of the Lord' also. (1 Thessalonians 4:15, Galatians 1:11). In fact everything he said was assumed to be the Lord's word so that if on a rare occasion he offered his own opinion, he clarified as much. (1 Corinthians 7:12).
Some New Testament books were not yet written by the time 1 Timothy was written, so that they were not referred to as the 'scriptures' in a final sense, as the Old Testament version was. (The OT cannon was not collected and 'canonized' as such but these were known to be complete by the Apostles as a new Testament was being written and still incomplete. Therefore they were not referred to as a set). However, even already in Timothy the 'Spirit expressly saying' is agreed by most commentators to be referring not to just the Hebrew scriptures but prophecies made by Jesus and others more recently in New Testament letters. (1 Timothy 4:1)
A fairly standard verse that people use on the technical side is here:
And count the patience of our Lord as salvation, just as our beloved brother Paul also wrote to you according to the wisdom given him, as he does in all his letters when he speaks in them of these matters. There are some things in them that are hard to understand, which the ignorant and unstable twist to their own destruction, as they do the other Scriptures. (2 Peter 3:15-16, NIV)
Clearly Peter 'assumes the writings of Paul are scripture' otherwise he would be guilty of gross miscommunication on a very important matter. Some think Peter is arguing directly that Paul's writing are scripture. I am in the camp of thinking he just assumes it as obvious due to his Apostleship and assumes the reader to understand it obvious as well.
Note: I take for granted that it is understood that an Apostle is greater than a Prophet. If one needed support for this argument I would present1 Corinthians 12:28, the fact that the Lord himself called the twelve Apostles, the fact that the writings of the Apostolic age contain greater revelations than those of the Prophets and that the gospel is so much superior that even every believer is considered greater than the greatest prophet, John the Baptist. His greatness only occurs from his nearness in time to the Messiah. (Math 11:11)
Inspired works are nothing in comparison to scripture as only scripture can test the truthfulness of their claimed inspiration. Scripture is the word of God the church has received and owned from Prophets or Apostles. The 'greatest of these', if such a word can be used to compare scripture with scripture due to the weight of the revelation contained in them, is the New Testament.