As a Southern Baptist, I pretty much agree with this.
Faith alone saves, but true faith not mere mental assent will result in changes in a person given enough time and that given time will produce works.
The solo scripture argument was a little weak. Scripture tells us to assemble ourselves together and that no scripture is of private interpretation. Therefore it should be obvious that a right understanding of scripture is aided by fellowship and bible study with other Christians.
And if reliance on scriptural interpretation is the cause of the many protestant splits, then it is also the cause of Catholicism’s splits, for most protestants split from Catholics as did the Orthodox Catholics and the Angligans. But rather, there are usually other factors than simply scriptural interpretations involved in splits.
See my post #96