FC, I think I basically agree with your take on the Precious Blood, but do you really think the above statement is heretical? I don't see heresy there, I see a man who doesn't want the Blood elevated above His Death. I don't separate them in my mind, but the reason he probably does is because they've already been separated and he seems to see that as a problem.
I'm not saying that he isn't saved, I am just saying he is wrong on that point. :-)