I would be very careful of any study that is contrary to the group's beliefs specifically in regards to soteriology.
Protestant is a broad definition and I feel must be differentiated from Reformed/Calvinism.
If your group is Calvinistic, then by all means study that. But it can get pretty divisive.
My Bible study group has a broad range of beliefs on non salvific things and a wide variety of denomination and non denominations.
We are able to discuss in a civil and loving manner but we are old and all mature Christians.
We just pick a book of the Bible and go through it very slowly and systematically. I like to let the Bible speak for itself.
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