When it comes to the implications of the text (he said application was over rated) show how implications conflict with the world, the flesh and the devil. Some of this seems to resonate with what Tullian Tchividjian says about Tim Keller’s preaching.
To be a great preacher, one needs to be tri-perspectival in their exegesis. That is, they need to be committed to the exegesis of the Bible, the exegesis of our culture, and the exegesis of the human heart. Some preachers claim that if you exegete the Bible properly, you don't need to bother yourself with the exegesis of our culture or the human heart. The problem with this view, however, is that the Bible itself exhorts us to apply Biblical norms to both our lives and to our world.
So exegete and show the conflict.