What was beowulf importance to the anglo saxons?

Answer 1

Because the story decribes events that happened just after the Anglo-Saxons had begun their migration and settlement in England, a time when the Anglo-Saxons still were in close contact with their Germanic kinsmen in Scandinavia and northern Germany. Many of the personalities of Beowulf also appear in Scandinavian sources. It appears to be that people such as king Hroðgar and the Scyldings, in Beowulf, are based on real people in 6th century Scandinavia.

And, of course : "Beowulf is the only substantial extant Old English poem that addresses matters heroic rather than Christian."

"Background and origins" in "Beowulf" : http://en.wikipedia.org/wiki/Beowulf#Background_and_origins