When I reflect on the interplay of 'sin and grace' or 'law and Gospel' I continually find myself coming back to Reformed teaching about the different uses of the law. The law is understood to have three uses or purposes:
In today's sermon when Paul is talking about our death and freedom from sin, he is talking both about the death of our old nature and about the end of the law's condemnation. We will continue to sin while we learn to embrace our new identity. But for those who have received Christ, the law functioning as 'mirror' now reveals Christ's righteousness instead of our failings and flaws.
And so we are no longer "under the law, but under grace" (Romans 6:12). But all the same the law continues to play an active role in our lives. Paul's call to "offer every part of yourself to [God] as an instrument of righteousness" (Romans 6:13) makes it clear that obedience and righteousness is an ongoing program. While we depend entirely on Christ's righteousness for our salvation, our sanctification is a work in progress to which we make a contribution. For this the law serves as a aid, a valuable 'guide'. It shows us the shape of a God-pleasing life.
So we are free from the law and its condemnation. Its mirror has already driven us to Christ. But the law's role is ongoing. It continues to be a good teacher of those who follow Christ.