Started it yesterday, and I agree with many comments here - it's one of those books where the light bulbs go on all over the place.
It also reminds one of what Gurdjieff wrote about in reference to the awakening of conscience. And that, of course, only can come about after "The First Initiation."
Some thoughts about the relationship between "law" and "faith" worth pondering IMO:
The background of Paul's view on the "law" seems to be a religious society where some kind of moral/religious law is more or less upheld (along the lines of the 10 commandments), and it can lead to righteous action. His concept of "faith" then goes way beyond that - it points towards a communion with Christ/the spiritual world, where the entire structure of our goals and motivations change and God becomes active through us. Moreover, a direct guidance by God/the spirit world may be established. For that to happen, we first need to be "crucified" - the old self needs to die, a deep realization of our sinful nature (and therefore sinful past) needs to kick in (i.e. First Initiation).
Now, in our present society, perhaps not unlike the late Roman times (?), our starting point is different - we don't live under anything resembling "religious law" or even "moral law". We live in an evil society on the brink of collapse.
I came across an interesting thought somewhere (perhaps in Scruton's work) that you will always have people at the bottom who somewhat rebel against the established moral order, and you will always have somewhat hypocritical "patricians"/elites. This is unavoidable. But as long as the moral standards (or religious laws) are still upheld, are still considered the ideal, societies can tolerate these transgressions, because people still consider them as transgressions, rebellions and hypocritical elites not withstanding.
But what precedes a true collapse is this: the patricians themselves actively promote unmorality. It's not just that some of them, or even many, are hypocritical; they actively corrupt society from the top - they actively fight the "law". That's when the end is nigh for a civilization.
What I'm getting at is that perhaps in our day, after the "First Initiation", we often need to get to the stage of law-abiding citizens first, that is to say we need to strictly follow a moral code or religious law. Only then (or in combination with it) a deeper communion with the spirit becomes possible where we can develop our own compass and live "in Christ", leaving the sphere of mere law-following.
In the present, I guess the idea of following the law would be something along the lines of becoming a decent conservative à la Jordan Peterson or Roger Scruton. Gurdjieff's "good obyvatel" also comes to mind, someone who has established a decent baseline on top of which can be built. There is much variation on this path though I think.
Now, the conservative view (as spelled out by Edmund Burke for example) is that you can't trust individual human reason all that much. Rather, we should look at the wisdom contained in tradition, which helps people make "virtue a habit" and that we abandon at our peril. Once these ingrained patterns and structures are removed and man left to reason alone, something like the French Revolution happens - people impose their purely intellectual fancies on society, based on some kind of apriori philosophy à la Rousseau (as opposed to the American Revolution that was more about preserving established folkways than imposing some kind of radical new philosophy).
Perhaps we should understand "the law" in that sense - accumulated practical wisdom. It seems that Paul was very aware of the dangers of removing this and proclaiming the "Christ spirit within" or "God's word" as the higher authority. This would explain why so much in Paul's letters is about practical guidance of the community, because people tend to come to all kinds of rationalizations of bad behavior once left to reason alone. It would also explain the ambiguity about the "law" and all the confusion in interpreting the relationship between faith and law - Paul doesn't condemn the "law" outright as wrong, and seems to want to preserve it in a sense, perhaps realizing that it is still necessary in a way for many people, even Christians, before "true love"/"God's word within"/"the awakened conscience" can replace it?
Last comment: the distortion in the translations of the bible are really astonishing. I checked a few passages in the German catholic standard translation, and it's crazy how the translators have imposed church doctrine on the text. For example, "God's word" is often rendered "proclamation" (Verkündigung), which is associated with "Jesus proclaiming the gospels" - reading that, it's impossible to interpret it as something coming from within that animates a person once he has the Christ spirit. Maybe it took a Quaker to figure it out, because the Quaker doctrine of the "inner light" already primes one to that kind of interpretation?