Are We Saved by Grace?

I really enjoyed reading Eric Collyer's blog post about Martin Luther and the Reformation.  He mentioned that there are some main differences between what Martin Luther believed about grace and what we as members of The Church of Jesus Christ of Latter-day Saints believe.  I did a little more research and found a talk by James E. Faust, who was formerly a member of the First Presidency. He says, "I am profoundly grateful for the principle of saving grace. Many people think they need only confess that Jesus is the Christ and then they are saved by grace alone. We cannot be saved by grace alone, 'for we know that it is by grace that we are saved, after all we can do'(2 Nephi 25:23)". I think that this is a beautiful way to explain it. I am so grateful for the Atonement of Jesus Christ that made it possible for us to be "saved by grace, after all we can do".