Good news indeed! In fact some of John Gill's commentary explains this verse more in depth:
Eternal Life...One that is in the true way of righteousness is one that is instilled by the righteousness of Christ, which justification is the justification of life: such an one is made alive, and reckons himself alive in a law sense; and enjoys true spiritual peace and comfort, arising from the love and favour of God, and acceptance with him, in which he sees his interest, and in which is life; and this righteousness, by which he is justified before God, entitles him to eternal life; to which the path of holiness, he is directed and enabled to walk in, leads; though it is a narrow way, and a strait gate, ( Matthew 7:14 ) . Christ, and righteousness and holiness in and by him, are the way, the truth, and the life, or the true way to eternal life; and all in this way now live spiritually, and shall live eternally, in Christ.
Eternal Life...One that is in the true way of righteousness is one that is instilled by the righteousness of Christ, which justification is the justification of life: such an one is made alive, and reckons himself alive in a law sense; and enjoys true spiritual peace and comfort, arising from the love and favour of God, and acceptance with him, in which he sees his interest, and in which is life; and this righteousness, by which he is justified before God, entitles him to eternal life; to which the path of holiness, he is directed and enabled to walk in, leads; though it is a narrow way, and a strait gate, ( Matthew 7:14 ) . Christ, and righteousness and holiness in and by him, are the way, the truth, and the life, or the true way to eternal life; and all in this way now live spiritually, and shall live eternally, in Christ.