What are the ramifications of the Pasuk "Ve'Shaftu Es ha'Am be'Chol Es"?
Ramban #1: Seeing as, due to Moshe's overloaded schedule, the people did not have ready access to him, it would discourage many litigants from presenting themselves to be judged by him, as well as many cases not being heard (and not being solved), it would prevent them from encamping peacefully. Now that there were many judges, all the cases would be judged peace would reign in the camp. 1
Ramban #2: The Gemara in Sanhedrin (34b) derives from here that money matters may be concluded even at night-time.
As Yisro specifically stated at the end of the next Pasuk.
What are the difficult things to which Yisro was referring?
Rashbam: Refer to 18:19:1:3*.
What did Yisro mean "Vehakeil me'Alecha"?
Seforno: Refer to 18:21:2:4.
What did Yisro mean when he said "Ve'nas'u itach"?
Seforno: Even those things that Moshe himself had to perform, such as teaching them Torah, would become easier, since the judges would assist him in teaching it to the people - after they had learnt the Halachah from him. 1
As Chazal explained.
How could the Dayanim judge before Moshe taught them? This was the day after Yom Kipur, when Moshe descended!
Moshav Zekenim (18): It is all a Drashahxpl. Moshe himself judged and taught