i.e. liberty as opposed to bondage. See 1Cor. 10.29.
The word translated here 'deprived of all profit' is hard to translate. The active form means to render anything useless and unprofitable, or miss an opportunity; as 'annulled,' Eph. 2.15. Here it is passive and with the preposition (apo) 'from.' Hence it is to be deprived of the profit or effect of anything. It is used in Rom. 7.6 ('we are clear') in the same form as here, for our deliverance from under the law; only there it refers not to profit, but to the action of the law. It had for them become void of effect. So here Christ. What the word speaks of is, not separation from Christ personally, but from what is for us in him.
The proper sense is 'to stop by cutting off the way.' As 'hinder,' Rom. 15.22; 1Thess. 2.18.
The expression 'by the Spirit' occurs in vers. 18 and 25; but in ver. 16 'walk' refers to the general manner of life, as Rom. 8.4, so I have left 'in.' In vers. 18 and 25 'walk' refers to the rule or line followed, as ch. 6.16; Rom. 4.12; Phil. 3.16. It is characteristic of the walk, leading, and life, the Spirit being the instrument and power.