Hadith is a body of reference and should be used to augment the teachings of the Quran. However, we need to be very careful in our study of hadith and should approach every hadith with the view that it could be false

There are age old arguments on how the hadith collection rules are so stringent and follow such strict guidelines that it is virtually impossible to have more than a few 'inaccuracies', however, these rules themselves don't stand a chance against even lay critical analysis.

For example the most oft cited criteria is that the person narrating the hadith should not have missed his prayers. Now I often have difficulty remembering if I prayed the correct number of rakat so how is it possible for someone else to vouch on my behalf as to whether I say all my prayers or not.

Similarly in the case of Mianjee's example we are starting from the assumption that the hadith compilers had good intentions and were not compiling hadith due to a vested interest---say, for example, creation of Islamic clergy (for which there is no basis or permission in Islam) or under direct orders of a ruler who wanted to use religion to his benefit

In fact, a lot of hadith seem to have been made up purely to allow the powerful to remain in power and have been used in a way similar to how the Church used its dictates to perpetuate its control over people

Finally, most of the practices that give muslims a bad name are a product of the hadith and in most cases clash with Quranic injunctions. For example stoning to death for adultery, forcing women to wear veils, etc.

Do not be offended by my commentary, these are my views and may, can and will be revised as my understanding evolves, they may diverge further from your beliefs or may come closer to them. Just remember that no discussion/debate is taboo in Islam

What is a Hadith?
A Hadith, is a saying or deed of the Prophet Muhammad. The collection of Hadiths forms 90% of Islamic Law
and is the second highest authority for Muslims after the Quran.

What do they say?
The most notorious parts of Sharia such as the injunctions
to kill people who turn away from Islam or to stone adulterers are found the in Hadiths rather than the Quran.

Which Hadiths will be
edited out?
Sayings which are misogenistic or anti-Christian will be removed
from the Hadith by Turkey's highest religious authority. Following are some that
they intend to remove.

"Women are imperfect in intellect and religion."

"The best of women are those who are like sheep."

"If a woman doesn't satisfy her husband's desires, she
should choose herself a place in hell."

"If a husband's body is covered with pus and his wife
licks it clean, she still wouldn't have paid her dues."

"Your prayer will be invalid if a donkey, black dog or
a woman passes in front of you."

How do we know the Hadiths are what Muhammad (PBUH) said?
Hadiths were brought together two hundred years after the Quran,
which was canonized in Medina in the 7th century immediately after the death of
Muhammad (PBUH). In the 9th century scholars like Muhammad al-Bukhari and Muslim ibn
al-Hajjai, catalogued the enormous number of reported sayings and decided which
were genuine. They examined the chain of people involved in passing on the
sayings, the more reliable the people in the chain the more genuine
authoritative the Hadith was said to be. The plan to edit the Hadiths is a
dramatically progressive step and Turkey is the first country to sanction such
a move.

Do they contradict
each other?
Some later Hadiths contradict earlier ones. In this case the
earlier Hadith is discounted and replaced by the later saying. 

"Some later Hadiths contradict earlier ones. In this
case the earlier Hadith is discounted and replaced by the later saying."

Pinky, no one is negating the importance of Hadith as a source of religious rituals, we just feel the need, and justifiably so, to bring our religion back to its fundamentals, which are enshrined in the Quran and to cleanse it of the influence of well intentioned prohibitions which have crept into it via the hadith

The hadith is merely a point of reference. I can get by quite well without it. Quran, on the other hand, is and should be the only source of Islamic law which needs to be interpreted and reinterpreted as the collective human knowledge advances

You are missing the point. Hadith is a source of religious RITUALS and how to perform them NOT (or should not be) a source of religious LAW. There is a distinction

@ mianjee, Khalifah, PINKY & Fallen Angel…
Well this is without any doubt that the nation have people like you, who not only can understand but come up with the solutions to such problems.

Please don’t be offended by any of my statements, as these are my personal & may be wrong as well.

First of all we should be able to differentiate between “History” & “Quran”.

History is:
    Study of the past in human terms.
    The study of the past, focused on human activity and leading up to the present day.
    The continuous, systematic narrative and the research of events in the past of importance to the human race, including the study of events over time and their relation to humanity.
Source: Wikipedia

Quran is:
    The central religious text of Islam.
    The book of divine guidance and direction for entire mankind.
    Rarely offers detailed accounts of historical events; the text instead places emphasis typically on the moral significance of an event rather than its narrative sequence.
Source: Wikipedia

Quran:

The Book that Allah Almighty gave to Muhammad (PBUH) through revelation, and which he passed on to the Muslims in the form in which we know it today. The internal evidence provided by the Quran itself, as well as historical research, proves beyond a shadow of doubt that not even a comma of the original Quranic text has been changed or is likely to be altered in the future. This is a unique attribute of the Qur'an and is not shared by any other revealed book now extant.

This Book does not give us merely a code of ethics; it provides us with a code of life which embodies guidance, principles and laws relating to every sphere of human life and activity. The Quran, according to Islam, is the final authority in matters of DEEN. The injunctions and the principles enshrined in the Book form the corner-stone of the Islamic polity and the limits laid down by it provide the framework within which the laws of the Islamic State may be formulated. These principles, or limits, or framework, are immutable, but the statutes made by the state within these four corners are open to modification and change according to the needs of the times.

The Quran is the last of the Divine Books, because nubuwwah ended with Muhammad (PBUH). No subsequent human opinion or pronouncement in matters of DEEN, therefore, can be recognized as authoritative; nor can any man-made law repugnant to the Quran be regarded as binding upon the Muslims. The Quran is a book of guidance for all mankind and transcends the barriers of time and space. The Islamic State is an instrument for the enforcement of the laws and injunctions embodied in the Quran.

Source: Tolu-e-Islam (http://www.tolueislam.com)
Article: http://www.tolueislam.com/Parwez/expo/exposition.htm

I firmly believe that History is written by human beings and there are chances of human errors. Events can be quoted wrong and create confusions as well. Since Quran is not written by any human being but Almighty, the only source of all knowledge & wisdom, the ONE; so there is not a single chance of error or confusion for sure.

We must not omit the fact that nowhere has Allah held the responsibility of Hadith, as it has done in the case of the Holy Quran. That is of utmost significance, since the Hadith consists of parables and sayings of Messenger Muhammad (PBUH) and nothing else, we must consider Prophet Muhammad's attitude towards Hadith.

If Hadith is part of Deen, then the procedures Messenger adopted for Quran are not implemented in the case of Hadith. Like having it memorized, then listening to his followers for any errors or that he satisfactorily approved what had been dictated and written, that over and above all, it was in its pure and authentic form.

Though the mind questions, if Hadith is all that significant, why the Messenger did not take the same measures as he did in the case of Holy Quran? On the contrary, we find in that very Hadith, Muhammad PBUH clearly says:
Do not have anything else dictated from me, save the Quran. If anyone of you has written any word other than the Quran, erase it!

Source: Tolu-e-Islam (http://www.tolueislam.com)
Article: http://www.tolueislam.com/Parwez/mh/mh_01.htm

Well a simple method could be used; if there is 0.01% difference between Quran and Hadith, that particular Hadith may not be followed or quoted anywhere again.

As we do believe in the fact that Prophet Muhammad (PBUH) has successfully implemented pure Islamic Laws and none of His actions & deeds are against the Holy Quran. Quran is not only a book; it contains a unique pattern of life called “DEEN”. And Quran is not only for Muslims but for entire mankind.

So we should consult Quran regarding authentication of any Hadith, law & principle.