Melanchthon on Perfection

"In Colossians 1:28 it says, "You are presented perfect in Christ Jesus," that is, even if the regenerate do not yet  fulfill the law, yet they are righteous and pleasing to God for the sake of His Son. Here we should confess and celebrate the fullness of the mercy of God, that in those who have been reconciled, the obedience which is incomplete, imperfect, unclean, and corrupted by many wicked desires, is still accepted by God, not indeed because of the worth of our virtues but because of the Son of god, Rom 6:14"You are not under the law but under grace."

At this point, the question is asked: Does our obedience please God when it does not satisfy the law? Paul replies that it does please him because "We are not under the law," that is we are not condemned by the law; but we are under grace, that is, we have been reconciled or accepted into grace, Rom. 8:34 "Who will condemn us? It is Christ who died for us and rose again, who is at the right hand of God and intercedes for us," that is, the saints are pleasing to God because of the intercession of Christ" 

Melanchthon, Phillip, Loci Communes, 1543, trans. J.A.O. Preus (St. Louis: Concordia Publishing House, 1992) 102.