Looking at the original languages is a good idea.  I’ve devoted quite some time to it.  However, knowing your limitations is just important as being aware of the options that are before you.

One must be careful in doing the “Amplified Bible” trick.  The Amplified Bible often lists several options for different words.  Instead of doing the interpreting itself on some things, it leaves the option up to the reader.  However, some people are misled into thinking that either a) the original word meant all of those things or b) every option is equally valid.

As far as literal translations go, I think three of your best options are the New American Standard Bible, the English Standard Version, and the NetBible (netbible.com; you can get it in hard print too).  The last one is really cool because it’s loaded with footnotes explaining a) why they went with the translation they did and b) other options they ultimately rejected.  Any translation involves interpretation (not just with Bibles; this includes anything written or spoken).  It’s important to understand the limitations of translations as well.

I believe the CEV is written on a 3rd grade reading level (or lower).  This doesn’t mean a lot of what  it says is necessarily wrong or untrustworthy.  However, a lot of times it will “dumb down” concepts or simplify the language to make it easier to understand.  This certainly has its place, although I would think it’s not really the best bet for serious Bible study.

When you first start learning Greek, you learn the basics (the alphabet, the forms, etc).  However, once you get the grammar down, then you move on to syntax.  This is where you start studying, for instance, which meaning “ek” takes in this passage.  The basic ideas of the preposition include source, separation, temporal, cause, partitive, and means (I got this out of Daniel Wallace’s syntax book.  There are other sources as well.).  However, selecting the right usage isn’t as simple as choosing which usage you like the most.  I bring this up because it’s an easy mistake to go the “Amplified” route, look up potential meanings, and then assign the ones you like (I’m not accusing you of this; I’m speaking in general).

Words coming from “teleioo” usually carry the idea of perfection.  However, the American English idea of perfection tends to gravitate towards the more narrow idea of without flaw.  The Greek word usually relates more to becoming “mature” or “complete.”  “Teleo” is a related verb that has the idea of “finish” or “complete.”  In that sense, I can see why “perfected” is not an optimal translation (because of the connotations we attach to “perfect”).

I think the Bible teaches that a person’s faith is incomplete without works.  We were saved for good works (Eph 2:10).  However, at no point does our works become the means of our salvation.  They are a result of our being in Christ.  In John 15, Jesus’ parable about the vine and the branches is clear enough.  By remaining in Christ, we will produce fruit.  That’s how it works.  This doesn’t take away from “justification by faith.”  There is no earning going on.  It is a part of our sanctification, though.

Justification is the initial part of our conversion.  It is what makes us “not guilty” before God (technically, we’re still guilty, but the punishment has been paid–>our sins are forgiven).  However, it doesn’t stop there.  Sanctification is what the Christian life is about: living a holy life through the power of the Holy Spirit.  Someone who lives in sin (i.e. not commits sins, but is unrepentant and leads a life characterized by sin) walks a dangerous line.  Their sins aren’t so bad that Christ won’t forgive them, but they are opening themselves up to rejecting his sacrifice.

The scissors analogy for faith and works is very flawed in my opinion.  This is giving them [faith and works] both the same function, which is very off base.  We are saved by grace (grace is the cause or basis) through faith (faith is the means) at baptism (that’s a temporal use of “at”-at the time of baptism; I know I just lost some people there) for good works (purpose).  [I won't go too far into the baptism thing since that's not the point of this post or my reply.]  A better analogy in my opinion is someone giving you a check for $1 million even though you owe them money.  Grace is the trait of the one bestowing the money-giving you something good when you deserve something bad.  Faith is your trust in that person’s offer.  Baptism is you cashing the check at the bank, accepting the gift where it has been designated to be received.  The purpose behind this wasn’t just so you’d have a lot of money, but so that you could be benevolent.

Fun discussion.

Here’s a quick summation I guess:

Works are a way of life, not a way of salvation.