Everyone approaches exegesis and Bible study with presuppositions. For example, one of my presuppositions is that the sacrament of water baptism is not salvific, and that influences my interpretation of Acts 2:38:
Then Peter said to them, "Repent, and let every one of you be baptized in the name of JESUS Christ for the remission of sins ..." (NKJV)
Many Evangelical commentators say that "for" in that case, actually means "because of," or "due to," even though I can't locate a single popular English translation the renders the Greek in that way. (That's not to say that a minority English translation like that doesn't exist.) Just about every translation I can find seems to indicate that, in Acts 2:38, the forgiveness of sins is linked to baptism.
On a related note, if you were to go with the baptism=forgiveness route, then you'd have to concede that John's baptism had the same effect:
John came baptizing in the wilderness and preaching a baptism of repentance for the remission of sins.
-- Mark 1:4 (NKJV)
Despite some exegetical ambiguity, my presupposition on this matter remains intact.

Bird,
Tami here from the old OWOA. I think that it needs to be remembered that the baptism of John took place during the time of the Old Covenant. Acts was under the new covenant or the new law. Christ came and fulfilled the law. Baptism was not a new concept to the Jews. You can research the word "Mikvah" and read up on that...although you may already have. I think that it is important to note that Acts 2:38 doesn't mention "believe....". I think that the people in Acts 2 believed and wanted to know what to do for salvation.
Yes, you can probably guess that Jeff and I believe that baptism is part of the steps of salvation. I grew up evangelical...penacostal and it was quite a change when I came to the belief in the importance of baptism.