I think we get far too caught up trying to understand and articulate what is and isn't law. It doesn't have to be a complex issue, because the complexities lie in how we are spiritually and theologically redeemed by the standard of God, and not so much a question of if we are redeemed. I'm seeing a lot of banter not only in the forums, but within a majority of Christian groups as to whether we are under law. I don't want to make this a long post, so let's keep it to the point.
Romans 6:14
For sin shall no longer be your master, because you are not under the law, but under grace.
Absolution: We are no longer under the Law.
Romans 7:12
So then, the law is holy, and the commandment is holy, righteous, and good.
Absolution: The Law is holy, righteous and good.
Romans 3:20
Therefore no one will be declared righteous in God's sight by the works of the law; rather, through the law we become conscious of our sin.
Absolution: You cannot be declared righteous by following the Ten Commandments.
Romans 3:22-24
This righteousness is given through faith in Jesus Christ to all who believe. There is no difference between Jew and Gentile, for all have sinned and fall short of the glory of God, and all are justified freely by his grace through the redemption that came by Christ Jesus.
Absolution: Righteousness is a gift imparted freely onto all who believe in the resurrection of Jesus Christ.