G.W. North emphasizes that Jesus Christ embodies all virtues and graces, being made sin for humanity while remaining sinless. He illustrates how Christ's life personifies the spiritual qualities described in the Old Testament, making Him the substance of all that is virtuous. The Holy Spirit, in a similar manner, imparts these virtues to believers, allowing them to reflect Christ's character. North highlights the unity and love within the Godhead, showing how the Holy Spirit identifies with both Christ and believers to fulfill God's purposes. Ultimately, the sermon reveals that through the Spirit, believers can experience and display the life of Christ.