Today, Leighton Flowers posted a very good video arguing against the Reformed ordo salutis:
Calvinists are Stumped by Colossians 2:12
However, Flowers skips over what the text speaks here of what the instrumental means of regeneration is—water baptism (Flowers tries to downplay the water baptism reading, but it is pathetic [as it James White's trying to make an "either-or" dichotomy between water baptism and regeneration--in reality, it is "both-and."). For a discussion on this blog, see, for e.g.:
Water Baptism being a Spiritual Circumcision and Baptism being Salvific in Colossians 2:11-14
For a book-length discussion of the topic of baptismal regeneration, see:
"Born of Water and of the Spirit": The Biblical Evidence for Baptismal Regeneration (pp. 61-68 discusses Col 2:12-14 [*])
[*] for those who want a PDF copy of the book, drop me an email at ScripturalMormonismATgmailDOTcom (and yes, I would be willing to debate Flowers, White, et al., on whether the Bible teaches baptismal regeneration).