It is a good document and simply states what the New Testament teaches Christians should do normally.
In is interesting that there is a movement this year to form a new church covenant that encompasses all "Baptists" regardless of their beliefs or practices. It will be presented in Atlanta, GA and believe it or not...Ex President Jimmy Carter will be the key speaker?!?!
It is an ecumenical document and shows how far many Baptists, including the Southern Baptists, have gone in leaving God's truth. True New Testament churches have no creed by God's word. The traditional church covenant is a sound document and declaration of biblical truth.