I Corinthians 1:7

So that ye come behind in no gift; waiting for the coming of our Lord Jesus Christ: (KJV)

Then: In the middle of thanking (God Element #4 - remember?) for the people he loves in Corinth, Paul encourages and reminds them that they lack none of the gifts of God. They have the testimony and the gifts. So they wait for Christ's return; they really are part of the family of God. Jamieson, Faussett, and Brown specifically point out three -- faith, hope, and love, but Paul doesn't. N.T. Wright (p. 3-4) provides a foreshadowing thought that the problem with the Corinthians is not the lack of a gift, but the use of their gifts. In summary, three things underlie this short verse: thanksgiving, encouragement, and preparation for Paul's coming advice.

Now: Here's a Christian status check. Do faith, hope and love shine forth from the individual whether he knows it or not? Is the Lord's testimony right there also? If so, have no fear. We can abandon doubt as to whether we are members of the family of God. The verse is also a self-esteem check. Accepted by Christ, our personal worth and value come from Him. No work in his kingdom is demeaning. No value comes from possessions or genealogy. All value and self-worth comes from Christ and his love for us. Be encouraged. God loves the assembled church and each member individually. God loves you.

Extra source: Jamieson, Faussett, and Brown, on-line edition of commentary
http://www.ewordtoday.com/comments/1corinthians/jfb/1corinthians1.htm