Now that we are no longer under Law, but under the law of Christ, we have the fullness of God's revelation to man in the person and work of Jesus Christ.  As such, what we confess must be lengthier and more detailed.

As Rev. Hyde writes, "The primary New Testament confession of faith is Peter's statement, 'You are the Christ, the Son of the Living God' (Matt 16:16). Peter's confession of Jesus consists of two points.  First, Jesus is 'The Christ,' that is, he is the Messiah, the anointed One.  In the Old Testament, there were three anointed 'offices'-prophet, priest, and king.  These anointed ones were the leaders of Israel.  Therefore, when Peter calls Jesus 'the Christ,' he is confessing that he is the final anointed prophet, priest, and king of God's people and the One promised and hoped for in the Old Testament.  In addition, as the Messiah, he is the Savior of his people.  Second, Jesus is confessed to be 'the Son of the Living God.'  To be 'the Son' of God means that Jesus is eternal with God, that is, he is God!^[1] "

Hyde, Daniel R. The Good Confession, pg 13-14.