Not settled at all.

Dolce was asked a follow up question by the priest (Fr. O) who prompted this discussion. He asked for her reflections on these verses, and how she might define the vices listed in them:

Ephesians 5:3 But among you there must not be even a hint of sexual immorality, or of any kind of impurity, or of greed, because these are improper for God’s holy people. 4 Nor should there be obscenity, foolish talk or coarse joking, which are out of place, but rather thanksgiving. 5 For of this you can be sure: No immoral, impure or greedy person—such a person is an idolater—has any inheritance in the kingdom of Christ and of God. 6 Let no one deceive you with empty words, for because of such things God’s wrath comes on those who are disobedient. 7 Therefore do not be partners with them."

(The selection of NIV was his. It's not my favorite translation.)

What I've realized in contemplating the verses for several days is that there are really multiple responses:

1. Explore the definition of the Greek word πορνεύω (porneia) which in this passage is translated to "sexual immorality".
2. Look at how usage of  πορνεύω changed from before Christ to the first several hundred years of the Church as Christian sexual morality was refined, and how it has continued to change right on down to our present age.
3. Examine how a current use of porneia applies to life today.
4. Explain how Dolce and I personally apply the passage according to individual reflection and revelation.
5. Lather, rinse, and repeat for the other vices listed. (For example, I'm sure an examination of the Greek term translated to "greedy" would be interesting, given how various Bible versions treat it in combination with idolatry.

Any discussion about Christian morality deserves this type of evaluation. Despite the stereotypical fundamentalist claim, there in reality is no "Clear Teaching of Scripture".

As for answering Fr. O's question? Looks like it might take a few posts.