John Fea thinks this exchange between Stephen Coulbert Colbert and Garry Wills exhibits on Wills’ side a low church evangelical outlook. When I watched it, it sounded more like Luther. When do evangelicals ever invoke Augustine against transubstantiation — “to think we consume and eliminate the body of Christ”? No mention here of a conversion experience or sola Scriptura (though Wills does seem to know the Bible better than Coulbert Colbert who opened a can of worms when invoking Hebrews on Melchizedek).
What is worth noting is that both of these men grew up in the Roman Catholic church, still identify with Rome, and could not be more at odds on the very matters of faith that make Roman Catholicism Roman Catholic.
Update: and here is a Lutheran video, approved, recommended, and circulated by Fr. Z, that supports what the interview with Wills reveals.