Okay he wasn't right about everything but he was most certainly Biblically correct to say that Christians are saved "Sola Fide" (by Faith Alone). Indeed Pope Benedict XVI himself declared "Sola Fide" in one of his public addresses to the faithful in St. Peter's Square way back in January 2009 and affirmed that Luther had correctly translated Paul's words as "justified by faith alone".
It's hard of course to understand the context of October 31st 1517, when a young Luther nailed his 95 thesis to the door of Wittenberg Church and ignited the centuries in the making reformation but those events led to Luthers realisation that it was (as Pope Benedict XVI said) "the faith of a Christian, not his works that saved him."
Of course Benedict XVI, being exceptionally crafty, qualified his statement on faith by defining it as an "identification with Christ expressed in love for God and neighbour", thereby blurring the lines between faith and works beyond recognition, but hey he's the Pope and it's his job to promote his Church's teaching.
Yet this does not overshadow the very real reformation going on within Rome, a reformation that started pretty much thanks to Luther. It is hard to imagine Trent or Vatican II having occurred without the Reformation and certainly many of the attempts by Pope Benedict XVI to promote prayerful reading and understanding of God's Word along with a more greater emphasis on the proclamation of God's Word have come about thanks to a new appreciation of the Reformers, and Benedict himself admit as much.
This Reformation day, let's stop this whole revolution/reformation malarkey. Let's stop the idolisation of the Reformers, and their demonisation. Instead let's look forward to a time when the Word which once divided us can, as one Catholic Bishop said "unite us once again" and we can all be part of a Bible centred, Christ focused Church.