Imputation -- a "New Perspective"?

The mainspring for seeing Law (works) and Gospel (faith) as mutually exclusive paths to salvation comes by seeing the total and exclusive damning power of the Law.  This is the reason that imputation of righteousness (or union with Christ) was so important to the Reformation.  If the exclusive, complete and total damning power of the Law is a false interpretation of Paul, as the "New Perspective" on Paul asserts, then there is no need for the imputation of anything.  In this view, we may be "saved by faith," but this has nothing to do with putting a full set of righteousness to our account.  By "believing" we have just ticked off one of the requirements for salvation.  There is no imputation required, because God does not keep accounts this way.  We just don't need the righteousness.

But, Paul's doctrine is clear.  The natural creation is under the condemning power of the Law, totally and completely.  Because we do need the righteousness, there is no exit but by judgment and death.  There is no salvation unless that death in which we die is the death of Christ.  The first creation comes to an end in judgment, inside or outside Christ.  The new creation in Christ, and all its righteousness, is given to us as a gift. 

We do need the righteousness.  And, we have it!