Water baptism is a ceremony.
A ceremony is an outward sign of an inward reality, nothing more.
The power is in the inward reality, not in the outward sign.
We receive the Holy Spirit as a result of our putting our trust in the saving power of Christ. Baptism is an outward sign that we have decided to follow Jesus and be a part of his church. A public testimony.
I believe a person can have the inward reality without the outward ceremony and still be saved. Because we are not saved by the outward ceremony of baptism, but rather the inward reality of our relationship with Christ.
This inward reality you speak of is not Ceremony, it is in fact OUR Reality.
We who were dead in our Flesh and sins have become alive by the Holy Spirit of God, through Baptism.
Are you not Crucified with Christ into His Death, are you not Resurrected unto Newness of life in Christ through His Resurrection.
Gal. 2:20
I am crucified with Christ: nevertheless I live; yet not I, but Christ liveth in me: and the life which I now live in the flesh I live by the faith of the Son of God, who loved me, and gave himself for me.
Rom 6:10,11
10) For in that he died, he died unto sin once: but in that he liveth, he liveth unto God.
11) Likewise reckon ye also yourselves to be dead indeed unto sin, but alive unto God through Jesus Christ our Lord.
This is not Ceremony, no, it's a Spiritual Reality that we have become alive unto God through Baptism, God is not a God of the dead, but of the living.
This Newness of life is a Spiritual life in Christ, where we are Born Again, Regenerated unto Newness of life in the Spirit.
John 3:6
That which is born of the flesh is flesh; and that which is born of the Spirit is spirit.
If we believe that the New Birth Baptism is only Ceremony, then we cheapen the process by which God Regenerates Believers unto Himself, we are not Reconciled unto God by Ceremony, but by the Reality of a Death (Repentance) unto sin and our Flesh through Baptism, unto Newness of life in the Spirit.
Col. 2:6
As ye have therefore received Christ Jesus the Lord, so walk ye in him:
We (Receive) Jesus In Belief, but we can only (Walk) in Him through Baptism.