Part 2:
The literal reading tells us what the author intended, and this is where historical methods are useful. But if the writing is inspired, then God is also the author, and God is also trying to tell us something. Denying any meaning transcending the literal is denying inspiration, which many of the scholars do.
Furthermore, it's just silly to say that Paul would have failed an OT class because he gives the spiritual sense of scripture. Christians up and down the centuries would find this absurd. Given what we know about Paul's training, he would have done very well in an OT class. The error is thinking that the only meaning of scripture is the historical. That has never been held by any large number of Christians prior to the Enlightenment. There are many Protestants such as Greg Boyd who agree with Catholics on this topic but call it TIS, or the Theological Interpretation of Scripture.
:e4e: