Tom (N. T.) Wright says
The point, again, is that by the Spirit those who are already justified by faith have their lives transformed, and the final verdict will be in accordance with that transformation, imperfect though it remains.
See comments by N. T. Wright #19 and #23 at Denny Burk’s blog.
Especially don’t miss Andrew Cowan’s write up here.
See also this post and comments by Preston Sprinkle here.
Ardel Caneday’s comments are worthy here.
Check out Mike Wittmer’s posts here and here.
Finally, browse to some good summaries of Schriener, Thielman, and Wright.