Michael Card and John Michael Talbot's Song "One Faith"

This is an excellent Chistian song, musically, but given what we argue here at DC every day, does any Christian see any problems with the claims in this song? They should be obvious, or at least they are to me. I find Christian lyrics to be superfical at best, and false at the worst. Anyone disagree? Do Christians think through the lyrics while listening to one of their popular songs? What would happen if they did?