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This is the keys to the kingdom as before, which is the gospel message itself. It was Jesus' payment for our penalties that forgave all our sins, but we still had to hear it before we could accept that forgiveness. The message has power and refusing it to someone was up to them.

See, I disagree here on it being the Keys. The Keys are explicitly mentioned as being handed to Peter. In both John and Matthew 18:18 the power of binding and loosing are mentioned without any explicit reference to the Keys. In Matthew, it is specific that Jesus conveys this power to all the Apostles before Peter again comes forward to speak one-on-one with Jesus. If the Keys were to be the Good News, why would that imagery appear only in a conversation explicitly between Jesus and Peter, and then neglected when the same power was passed to the other Apostles? Further, how do the Keys relate to Isaiah 22:22 where the "key to the House of David" is a symbol of authority?

Really. I heard differently, and that it was to such a point that Communion (Eucharist?) is refused to those baptized in Protestant denominations.

Baptism done in the name of the Trinity is valid - however, Protestants are denied the Holy Eucharist not due to an invalid baptism, but rather because they denied the Real Presence of Jesus Christ. Under John 6:54

"Then Jesus said to them: Amen, amen, I say unto you: except you eat the flesh of the Son of man and drink his blood, you shall not have life in you"

Catholics believe that the Eucharist is the True Flesh and Blood of the Christ, in accordance with His Words. But that is a whole 'nother conversation...

See, I disagree here on it being the Keys. The Keys are explicitly mentioned as being handed to Peter.

Well, if you want the specific word "keys", Jesus has them in Revelation 1:18. Maybe Peter gave them back. :-P

If the Keys were to be the Good News, why would that imagery appear only in a conversation explicitly between Jesus and Peter, and then neglected when the same power was passed to the other Apostles?

There's the problem with keeping the keys separate from binding and loosing. Bind and loose are associated directly with the keys in Matt. 16:18, and then he uses the same language in Matt 18:18, it has to be referencing the power of the Keys.

Further, how do the Keys relate to Isaiah 22:22 where the "key to the House of David" is a symbol of authority?

What was the point of the House of David? What was the point or the lineage of David? Jesus. He is the everlasting King in the line of David, and the authority. But what does he do? He asks us, starting with the disciples, to let others into the kingdom of God. What does He give for that purpose? A helper (the Holy Spirit) and Keys to the Kingdom of Heaven--the Gospel. Both are right next to each other in John 20:22-23.