What is the meaning of Romans 5:9-10?

9 Much more then, being now justified by his blood, we shall be saved from wrath through him. 10 For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life. (Romans 5:9-10 KJV)

William Burkitt’s Commentary

As if Apostle Paul had said, “He that loved us when we were enemies, will not damn us now we are his children. He that reconciled us to himself by his Son’s death, that is, for the sake of his Son’s sufferings, and satisfaction, will certainly save us from the wrath to come by his life, or for the sake of his prevailing intercession;”  If when enemies we were reconciled to God through the death of his Son.

Here note, That this word ( if) is not a word of doubt, but of argumentation. The apostle supposes it a known truth, or a principle yielded by all Christians, That the death of Christ was to reconcile sinners to God.

Learn hence, That Christ has reconciled God and us by the satisfaction which his death has made to the justice of God for our sins; and reparation being made, the enmity ceases on God’s part if the terms of reconciliation is accepted on our part.

Our reconciliation with God, when enemies, was effected,

1. By the sacrifice of the death of Christ, which was the price that purchased it.

2. By the application of that benefit to us through faith: And, 

3. By Christ’s potent and eternal intercession, whereby our state of reconciliation is confirmed and all future breaches prevented: For if any man sin, we have an Advocate with the Father, even Christ the righteous, 1Jo 2:1-2.

We dare not say that God could not have reconciled us any other way but this; but we may safely say that no way like this was so expressive of his love to us; it was the most obliging and endearing way imaginable to reconcile us to himself by the death of his Son.