Interesting discussion.
One thing that I have not seen mentioned is the fact that baptism was done by those before Christ during the ministry of John the Baptist. Baptism was something that was submitted to since it indicated that the one being baptized was repenting and submitting to the Lord. It represented an end of a rebllious life, and the start of a new life for the Lord.
Also, if one is going to attribute saving power to the act of baptism then one must also consider the fact that Jesus Himself submitted to baptism.
If anyone is going to suggest that Jesus got baptized to be saved, I will gladly contend with them. God the Son, God incarnate had no need of salvation, yet He submitted to it. He did not have to, yet He did in showing His complete submission to His Father and to everything that is associated with righteouness...setting an example. John admitted He needed to be baptized by Jesus, but there is no record he ever was. Was John the Baptist saved? All of the others who believed in Christ in the gospels...of whom we have no record of them being baptized...were they saved? Those who claim the thief on the cross who confessed Christ had already been baptized argue from the point of 100% pure speculation. When those who hold to it ask "Well, how else could he had been with Christ in paradise?" I will tell you how...because the Son of God said so.
1st Peter 3:21 does say baptism saves you...but you have to read the entire thing...not the removal of the filth of the flesh...but the answer...the response of a good conscience toward God!! It is the response of a saved person! A supposed "saved" person who is apathetic toward or resisting baptism does not have a "baptism" problem...but a problem in their heart and mind toward the Lord. Baptism is also commanded by the Lord in the great commission, so it is not optional. OBEDIENCE to the Lord is not optional. It could even be called a "good work" if you wish...an act of obedience...even though it doesn't produce salvation itself...it is not optional. I think sometimes people think that because most baptist believe it is not a saving act that they believe we think it is optional. Obedience doesn't save...but it is not optional, and if someone thinks it is optional, then there is a problem at the faith level.
But if a person dies before they are baptized...with no chance to do it...or they did not know of the command....I cannot envision God saying to them "Yes...I know you believed in My Son....yes, I know you repented and wanted to follow Him...but you never got baptized....so to hell with you!"