Further Update: Discussion continues. By far the most graceful reflection comes from Darren at Papercut Theology
It’s interesting how similar the language is, as Darren says, and how much work it seems we make simple words like atonement do. I looked up atonement before I posted - I may post the text from my greek study guide here…

Update
: Sven says this better

Pyromaniac digs up this quote by spurgeon, which he belives is talking about Penal Substitution. Aside from some amusement at the Victor Meldrewness of it, it’s an excellent, and typical spurgeon quote, talking about Jesus atoning (at-one -ment- reconciliation) death on the cross.

Interestingly while he talks about a recompence and substititution, he makes no mention of punishment or anything penal. In fact he seems to be fairly clearly talking about the satisfaction model of Atonement (Substitutionary Atonement) which Anselm devloped, before it was developed further by Luther and Calvin into the currently popular penal model. Interesting to note major theologians with different understandings even then…

“Those who set aside the atonement as a satisfaction for sin also murder the doctrine of justification by faith. They must do so. There is a common element which is the essence of both doctrines; so that, if you deny the one, you destroy the other.

Modern thought is nothing but an attempt to bring back the legal system of salvation by works. Our battle is the same as that which Luther fought at the Reformation. If you go to the very ground and root of it, grace is taken away, and human merit is substituted. The gracious act of God in pardoning sin is excluded, and human effort is made all in all, both for past sin and future hope. Every man is now to set up as his own savior, and the atonement is shelved as a pious fraud.

I will not foul my mouth with the unworthy phrases which have been used in reference to the substitutionary work of our Lord Jesus Christ; but it is a sore grief of heart to note how these evil things are tolerated by men whom we respect.

We shall not cease, dear brethren, in our ministry, most definitely and decidedly to preach the atoning sacrifice; and I will tell you why I shall be sure to do so. I have not personally a shadow of a hope of salvation from any other quarter: I am lost if Jesus be not my Substitute. I have been driven up into a corner by a pressing sense of my own personal sin, and have been made to despair of ever doing or being such that God can accept me in myself.

I must have a righteousness, perfect and Divine; yet it is beyond my own power to create. I find it in Christ: I read that it will become mine by faith, and by faith I take it. My conscience tells me that I must render to God’s justice a recompense for the dishonor that I have done to His law, and I cannot find anything which bears the semblance of such a recompense till I look to Christ Jesus. Do I not remember when I first looked to Him, and was lightened? Do I not remember how often I have gone as a sinner to my Savior’s feet, and looked anew at His wounds, and believed over again unto eternal life, feeling the old joy repeated by the deed?

Brethren, I cannot preach anything else, for I know nothing else. New dogmas may or may not be true; but of the truth of this doctrine, I am sure.

If anybody here is preaching the atonement, but does not like it, I dare not advise him to cease preaching it, but the words tremble on my lips. I am firmly persuaded that the unwilling or cold-hearted preacher of any doctrine is its worst enemy. It comes to this, in the long run, that the wounds of truth in the house of its false friends are worse than those given it by foes. If you do not love the cross in your heart’s core, you had better let it alone. I can truly say that I preach the atonement con amore, with all my heart…….

Observers will have noticed that the joyous element has gone out of many pulpits. The preacher does not enjoy his own subject, and seldom speaks of having been in the Spirit while he was discoursing. He likes twenty minutes’ preaching a great deal better than forty; and he is peculiarly apt to merge his two week-night services into one.

Nobody enjoys modern doctrine, for there is nothing to enjoy…….

I would like to rise from my bed, during the last five minutes of my life, to bear witness to the Divine sacrifice and the sin-atoning blood. I would then repeat those words which speak the truth of substitution most positively, even should I shock my hearers; for how could I regret that, as in Heaven my first words would be to ascribe my salvation to my Master’s blood, my last act on earth was to shock His enemies by a testimony to the same fact?