Of course, the best Qiyaam ul-Layl is that which has long standing in it i.e. long recital of Quran. However, even if you know a few Surahs, your night prayer is still perfectly valid. In these cases, it'll be good to recite the Surahs that have alot of virtues i.e. Surah Ikhlaas, Zilzaal etc...
^ I heard that in an audio lecture once. Maybe someone else can come along and explain better InshaAllaah. :embarrass
About the holding the Quran thing --> Allaahu A'lam.