I've been studying Romans for the last few months exclusively as I prepare to teach it at CCC's Infamous Saturday Morning VERY Early Men's Bible Study. There
are a number of critical issues in the interpretation of Romans for the church today.
For example, if the New Perspective on Paul is right then we may get into the Body purely by grace but we only stay in by good works. If the Reformers (and Augustine) were right then we get in and stay in by election and demonstrate that election by good works.
Beyond those rather weighty matters which largely rest on fine points of exegesis, there is the question of what is THE theme of Romans? Justification (Chapters 1-4)? or union with Christ (5-8)? or the inclusion of Gentiles into the covenant people (9-11)? or unity of the church (12-15)? Or is it the righteousness of God (ala Greib)? or, simply, The Gospel (Douglas Moo)? More as time permits.