Translate that Greek word pistis to believing, and it fits. Baptism is essential. True, but leave off the water. Actually, faith is a part of the baptism. We obey out of our faith.
Faith is more that belief.
These are all action items that tell us that faith moved them to do something. By faith the walls of Jericho fell down. God says through his Apostles that we should repent and be immersed. While I understand that your primary concern is probably the question of the necisity of Baptism, you avoided the question in my last posting. I find it difficult to believe that you would affirm that our obedience saves us, yet you have passed up the opportunity to deny it.