You can have all the head knowledge of scripture; however, until you (not you personally, but any person) realizes that it is Christ in you--that is your hope of glory--then you will continually fail to live out the Christian life by trying to bear good fruit in your own strength.
I've heard that formula preached for better than twenty-five years. How is it markedly different from the "name-it-and-claim-it" fad of the eighties?