Absolutely, Sister! Total agreement. The blood that saves is the blood shed on the cross. (I tend to agree with you about the transubstantiation of the wine, while not 100% on it as you are too...there probably is truth in it wherein on the spiritual level something happens to the wine and it is transformed into the real deal and becomes spiritual truth and life in the blood)
However, both you and Chessman skipped over the body/flesh part of my post and question. Everyone always glosses over the other part. I've been shown that only half of the truth is being taught about communion, about the blood of Jesus is all that is being taught. There is another part that Jesus addressed, His body, the bread.
Matthew 26:26
26 And as they were eating, Jesus took bread, and blessed it, and brake it, and gave it to the disciples, and said, Take, eat; this is my body.../
...which is broken for you, this do in remembrance of Me.../ (1 Corinthians 11:24)
Now pay attention to the wording between these two scriptures. The first, the prophecy. The second, the fulfillment.
Isaiah 53:5
5 But he was wounded for our transgressions, he was bruised for our iniquities: the chastisement of our peace was upon him; and with his stripes we are healed.../
1 Peter 2:24
24 Who his own self bare our sins in his own body on the tree, that we, being dead to sins, should live unto righteousness: by whose stripes ye were healed.../
...we
are healed...
...ye
were healed...
Isn't that awesome, Sister?! Somewhere in between
are and
were is, IS, as in now. It's highly probable that many Christians through ignorance are walking around sick. Because they do not receive the healing spiritually through Christs body in communion. No wonder we're supposed to partake communion every day.
Praise the Lord!