Here are a few snippets. I like my Tappert version than the one online, but it is easy just cutting and pasting from it for the sake of discussion. So here...
43] But since justification is obtained through the free promise it follows that we cannot justify ourselves. Otherwise wherefore would there be need to promise? [And why should Paul so highly extol and praise grace?] For since the promise cannot be received except by faith, the Gospel which is properly the promise of the remission of sins and of justification for Christ's sake, proclaims the righteousness of faith in Christ, which the Law does not teach. Nor is his the righteousness of the Law. 44] For the Law requires of us our works and our perfection. But the Gospel freely offers, for Christ's sake, to us, who have been vanquished by sin and death, reconciliation which is received not by works, but by faith alone. This faith brings to God not confidence in one's own merits, but only confidence in the promise, or 45] the mercy promised in Christ. This special faith, therefore, by which an individual believes that for Christ's sake his sins are remitted him, and that for Christ's sake God is reconciled and propitious, obtains remission of sins and justifies us. And because in repentance, i.e. in terrors, it comforts and encourages hearts, it regenerates us and brings the Holy Ghost that then we may be able to fulfil God's Law, namely, to love God, truly to fear God, truly to be confident that God hears prayer, and to obey God in all afflictions; it mortifies concupiscence etc. 46] Thus, because faith, which freely receives the remission of sins, sets Christ, the Mediator and Propitiator, against God's wrath, it does not present our merits or our love [which would be tossed aside like a little feather by a hurricane]. This faith is the true knowledge of Christ, and avails itself of the benefits of Christ, and regenerates hearts, and precedes the fulfilling of the Law.
Notice the following:
1. The word Gospel is thrown around in Christian circles but it has been tortured to some nebulous connotations. The Gospel is the Promise. Well we can say it is Proclamation of the Promise as well. Note that Promise-Faith go hand in hand and only at faith is justification enjoyed and possessed too. This faith uses Jesus as mediator in front of God. It presents Christ to God. It brings the merits of Christ to God. God sees his seed in the hands of faith. Holding on to Christ, God sees the apple of his eyes - Jesus and is satisfied.
2. The quote speaks of sanctification as well, but the Gospel is about the Promise of God and not about sanctification. And though sanctification follows as fruit of justification, the Gospel is not about it but rather about Promise of reconciliation. The BoC does not seem to be alergic towards sanctification, as can be seen. The thing is that it can not be measured and it can not be used to gain favor with God. But sanctification, there is, and is asserted by this chapter. It places justification as its source.
This is good news, Jesus paid it all.