I find the Bible's portrayal of God as King is amazing, but I feel that we (or, if you prefer, I) don't always realize the implications of that portrayal. First, if a king tells you to do something and you disobey, what happens? Typically, the king teaches you that you're expendable and then you get a first-hand anatomy lesson about how easily the head can be severed from the body. The amazing thing about this is that God doesn't just kill us or punish us for what we do wrong. He pursues us, certainly, but not with hunting dogs and rifles or a posse to come string us up on the nearest tree. Instead of taking our lives, God loved us enough to take His own in our place. God is pursuing us to tell us that we are forgiven and that we should come home with Him!
Second, a king by definition is in control of everything in his domain. God's domain is the entire universe - along with every other possible universe. A king also exercises control over his subjects - that'd be us.
Third, a king deserves our respect, obedience, tribute, and in some cases our very lives, just because he's the king. Since God is the King, He deserves all these things and more - our worship, for example. People that say "God owes me an explanation!" or "Why would God do THAT?!" are ignoring a fundamental fact: God is the King and therefore He most certainly does not owe you an explanation, He has the power and authority to make decisions that we disagree with. And really, we should be glad that He can make decisions like that, because He knows better what we need than we do, since He knows everything.
Finally, if God is the King, then why do we worry? God knows everything and can do anything, and He's everywhere at once. He is in complete control of the world, and if we follow Him, what could really go wrong? Sure, we might have troubles, but God is still King and everything will turn out to further His kingdom in the end.