Moral Preaching of Texts or Moral Lessons from Texts?

I have been doing some thinking about the question above. While I think that simply drawing moralistic points from narrative texts can be problematic in that God can be left out the equation. For that reason there has been some fairly strong condemnation of the practice. But I wonder whether we might be throwing the baby out with the bath water. To this end, Jim Savastio has some helpful thoughts here.