Taking the reformed view I would say regeneration results in repentance. Regardless of that, CyberCowboy's other points are accurate.
Sure, righteousness is imputed to us.
Do you think everyone that walks down an aisle, raises their hand at a meeting, or says the "sinners prayer" is elect?
That you would even ask me that question is quite ironic in light of the fact that I've been attacked on this thread for inferring just the opposite in my FIRST post on this thread.
Maybe you missed it, so here it is again:
".....Remember the thief on the cross? He was one of God's Elect, but it wasn't evident until the very day he died.
Just because ..the Dali Lama [doesn't] embrace the ONE true God today, doesn't mean we can count [him] out just yet.
Where there's life, there's hope that [he] (and many others) are one of God's elect (that he chose before the foundation of the earth. Rev.13:7-8; 17:8; Acts 13:48; Romans 8:28-30; Romans 9:11-13; Romans 11:7; 2Thess.2:13; 1 Pet.1:1 (NIV); 2:9, etc., etc., etc.
Of course I know why the very most "loving" religious people (read legalists) are offended by me using the example of the thief on the cross -- he didn't have time to "do" all that stuff that "proves" (by outward appearances) that he was reeeeeeeeeally a "Christian".
But then, that's WHY I like to use that example -- it smokes them out immediately. Hahahahaha