The cross of Christ. This is the most impactful event in world history. It has shaped generations, nations, families and the very psyche of billions of people. It is celebrated across trinitarian (historical) Christian denominations since the resurrection and ascension of Christ. As Packer notes, "Language about the cross illustrates this clearly: liturgies, hymns and literature - homiletical, catechetical, and apologetic - all show Christians have from the start lived by faith in Christ's death as a sacrifice made to God in reparation for their sins, however, uncouth and mythological such talk sounds (and must always have sounded), however varied the presentations of atonement that teachers tried out, and however little actual theologizing about the cross went on in particular periods, especially the early centuries", (pg19-20). Everyone agrees Christ died on the cross, that it has relevance to our sorry state, and that it's only understood by faith in the head and heart, and evidences itself in the hands by good works.
However, what did it achieve? What was its telos? It's definable theological and existential purpose? Packer, in this short but erudite book, presents the penal substitution model of the cross. He doesn't interact with every other theory of the atonement directly, but rather, does so indirectly by the process of defining and discussing the Protestant position, which naturally causes a distinguishing from other theories.
Packer doesn't paint the later reformed defences of penal substitution in 100% good light, as he notes that there were many "rationalistic protestants" who countered Socinus' rationalistic critique by biting into his rationalistic worldview whilst trying to counter it. Through this, they made God too like man in His moral disposition. Packer notes how there's a mystery in it that must be held as a mystery, otherwise we'll be going against the Bible in its referal to the cross of Christ as a mystery. He prefaces his claim to mystery, as what the polymath Blaise Pascal declared in his "Pensees": "Just because something is incomprehensible doesn't mean it ceases to exist".
However, Packer also notes the cross isn't pure mysticism, and neither is it pure rationalism, but it's definable, biblical, yet mysterious.
In conclusion, Packer notes: "It will by now be clear that those who affirm penal substitution offer this model not as an explanatory analysis of what lay behind Christ's atoning death (in the way that the laws of heat provide an explanatory analysis of what lies behind the boiling of a kettle), but rather as a pioneer directing attenion to various fundamental features of the mystery - that is, according to our earliest definition, the transcendent and not-wholly-comprehensible divine reality - of Christ's atoning death itself, as the NT writers declare it",(pg 80-81).