OK, here are a few quotes from Sproul Jr's article (that I am hoping will help explain things a bit):
If there are five, how can even one of them be called sola?
It does, of course, in the end make perfect sense. The alones are not alone because they are talking, in a manner of speaking, on different wavelengths ... What sola Scriptura (for instance) is seeking to keep out isn’t grace, faith, Christ, or God’s glory. It’s trying to keep out unbiblical tradition. Grace alone doesn’t exclude the Bible, faith, Christ, or the glory of God.
In a very real sense, though they spin on different axes, these five are one ... The solas are precise and potent affirmations of this truth—it’s all about God.
The Solas are like 5 sides of the same coin, if we had 5-sided coins, that is
They all point to one truth, that it's not about us,
it's all about God. For instance, the 5 Solas tell us, from different angles or POV, that our
salvation (which is by grace alone, through faith alone, in Christ alone, apart from any works that 'we' do)
is by Christ alone.
His righteousness (as a man, resulted from the perfectly righteous life that He led for us before His Father .. the righteous life that we were 'supposed' to live) is credited to our accounts by His Father, while our sins are credited to His account .. e.g.
2 Corinthians 5:21. So, by His righteous life we become righteous, and by His death, our sins (and the Father's wrath) are atoned for/satisfied, and we become innocent again.
The Reformers used the 5 Solas to address different Biblical heresies (that's why there are 5), but they all point back to that same Biblical truth that we just discussed above (they point us away from a man-centered salvation and back towards the Biblical one that can only be found in Christ. We are then, in a very real sense, saved from God, by God, for God).
So the answer to your OP poll question, "
are we saved 1. by grace alone or 2. through faith alone" is "
yes"
(remember that the phrase
grace alone is not seeking to exclude faith, rather, it seeks to tell us that our works have nothing to do with our salvation, only Christ's works do .. e.g.
Romans 4:5, 11:6).
I hope that helps a bit, but please let me know if it didn't (I didn't have the time that I would have liked to have had tonight to give you a better constructed/thought-out answer). In fact, if the Lord helps me come up with a better way to explain all/part of this, I'll get back to you with those thoughts.
Blessings to you in Christ,
David