You are right on with most of your comments, but this one seems to contradict itself.
The first sentence, I agree with. It is your second sentence, that I question.
If the person is already born again, which I agree that he is, he is already saved (delivered) from God's wrath on the last day.
The "shall be saved" (delivered from his guilt, by following God's commandments, as he sojourns here on earth.)
No problem, ForestGreenCook. My understanding is that from/by being saved/born again in this life, we are completely and fully saved, but the actualization - the final realization of that salvation - when everyone is judged by God on the last day, we shall be held harmless due to having been saved in this life. No one will be held harmless unless they were saved. I didn't mean to imply there is a second salvation if that's how you took it, instead, it is just the final act of the one. Nevertheless, the Bible does refer to that final act as being saved in the day of the Lord. The point I was trying to make was that when the Bible refers to becoming "saved" as a result of "calling on the name of the Lord", instead of calling upon His by being saved, the "saved" in view is of the last day - otherwise, it would mean that in order to become saved one would first have to first call upon the name of the Lord( our work), which we know cannot be the case. In other words, once saved in this life, our salvation is a done deal, but nevertheless, we will all still have to stand before the judgment seat of Christ, and each accordingly found not guilty or guilty, with those saved to be found not guilty.
Whew, I didn't do a good job explaining this as it is a little complicated because the Bible used same word to mean different things, but hopefully, you'll be able to see it in the following verses. If not, I'll try to clarify.
How would you understand them?
[1Co 5:5 KJV] 5
To deliver such an one unto Satan for the destruction of the flesh, that the spirit may be
saved in the day of the Lord Jesus.
[Rom 10:13 KJV] 13 For whosoever shall call upon the name of the Lord shall be saved.
[2Co 5:10 KJV] 10
For we must all appear before the judgment seat of Christ; that every one may receive the things [done] in [his] body, according to that he hath done,
whether [it be] good or bad.
[Rom 14:10 KJV]
10 But why dost thou judge thy brother? or why dost thou set at nought thy brother?
for we shall all stand before the judgment seat of Christ.
[2Pe 2:9 KJV]
9 The Lord knoweth how to deliver the godly out of temptations, and to reserve the
unjust unto the day of judgment to be punished:
[2Pe 3:7 KJV]
7 But the heavens and the earth, which are now, by the same word are kept in store, reserved unto fire against the day of judgment and
perdition of ungodly men.
[1Jo 4:17 KJV]
17 Herein is our love made perfect, that
we may have boldness in the day of judgment: because as he is, so are we in this world.