Preach it brother! I'm reading Fanning's Verbal Aspect in New Testament Greek right now—thank you interlibrary loan! Oxford, what are you thinking? $160!? Anyway, he examines the various ways of translating 1 John 3:4–10:
Πᾶς ὁ ποιῶν τὴν ἁμαρτίαν καὶ τὴν ἀνομίαν ποιεῖ, καὶ ἡ ἁμαρτία ἐστὶν ἡ ἀνομία. καὶ οἴδατε ὅτι ἐκεῖνος ἐφανερώθη, ἵνα τὰς ἁμαρτίας ἄρῃ, καὶ ἁμαρτία ἐν αὐτῷ οὐκ ἔστιν. πᾶς ὁ ἐν αὐτῷ μένων οὐχ ἁμαρτάνει· πᾶς ὁ ἁμαρτάνων οὐχ ἑώρακεν αὐτὸν οὐδὲ ἔγνωκεν αὐτόν.Or, in the NRSV:
Τεκνία, μηδεὶς πλανάτω ὑμᾶς· ὁ ποιῶν τὴν δικαιοσύνην δίκαιός ἐστιν, καθὼς ἐκεῖνος δίκαιός ἐστιν· ὁ ποιῶν τὴν ἁμαρτίαν ἐκ τοῦ διαβόλου ἐστίν, ὅτι ἀπ᾿ ἀρχῆς ὁ διάβολος ἁμαρτάνει. εἰς τοῦτο ἐφανερώθη ὁ υἱὸς τοῦ θεοῦ, ἵνα λύσῃ τὰ ἔργα τοῦ διαβόλου. Πᾶς ὁ γεγεννημένος ἐκ τοῦ θεοῦ ἁμαρτίαν οὐ ποιεῖ, ὅτι σπέρμα αὐτοῦ ἐν αὐτῷ μένει, καὶ οὐ δύναται ἁμαρτάνειν, ὅτι ἐκ τοῦ θεοῦ γεγέννηται. ἐν τούτῳ φανερά ἐστιν τὰ τέκνα τοῦ θεοῦ καὶ τὰ τέκνα τοῦ διαβόλου· πᾶς ὁ μὴ ποιῶν δικαιοσύνην οὐκ ἔστιν ἐκ τοῦ θεοῦ, καὶ ὁ μὴ ἀγαπῶν τὸν ἀδελφὸν αὐτοῦ.
Everyone who commits sin is guilty of lawlessness; sin is lawlessness. You know that he was revealed to take away sins, and in him there is no sin. No one who abides in him sins; no one who sins has either seen him or known him. Little children, let no one deceive you. Everyone who does what is right is righteous, just as he is righteous. Everyone who commits sin is a child of the devil; for the devil has been sinning from the beginning. The Son of God was revealed for this purpose, to destroy the works of the devil. Those who have been born of God do not sin, because God’s seed abides in them; they cannot sin, because they have been born of God. The children of God and the children of the devil are revealed in this way: all who do not do what is right are not from God, nor are those who do not love their brothers and sisters.Rather infamous passage, isn't it? Well, after examining all the possible ways of translating it, including the most popular one: the habitual sense—which the NIV, ESV, and NLT all use— of "keeps on sinning," he comes to this conclusion: "On purely grammatical grounds, therefore, the absolute interpretation of 1 John 3:4–10 is to be preferred." page 217 (the full discussion is on pages 212–17).
In other words, on the basis of Greek grammar, the NRSV that I quoted above is correct, "No one who abides in him sins." That's what it says, period. You have a choice, either you theologize it away, or you modify your theology to match the scripture...
Personally, I think the whole tenor of scripture agrees with 1 John—but only by the power of the Holy Spirit. And that is where Chan has it correct in the original quotation that started this whole