What is the difference in that eternal life that folks have now without works, and that eternal life that is inherited by those enduring in good works?
having eternal life now is a state of being - one passes from death to life when he believes upon Christ alone
while inheriting eternal life is a quality of life - an inheritance that we store up in heaven through faithful service
In the Old testament, the inheritance was a possession that enhanced the quality of life. No longer were the Israelites to be slaves to others, they were given a possession.
Consider:
Numbers 32:18
We will not return to our homes until every one of the sons of Israel has possessed his inheritance.
Deuteronomy 15:4
However, there will be no poor among you, since the Lord will surely bless you in the land which the Lord your God is giving you as an inheritance to possess,
Judges 2:6
When Joshua had dismissed the people, the sons of Israel went each to his inheritance to possess the land.
When the True Heir came (Jesus), He was rejected. Son of God was automatically understood as Heir of God. The obvious implication was that He came from God - they said "You make yourself equal with God?"
Just a tidbit, go to a Muslim apologetics site, and you'll see that they understand precisely that Son is equivalent to Heir. They reject the notion, but they understand the implication, just like the Jews
Mark 12:7
But those vine-growers said to one another, ‘This is the heir; come, let us kill him, and the inheritance will be ours!' - see Luke 20:14
In Mark and Luke, this parable was spoken almost immediately after the rich young ruler asked what he must do to inherit eternal life
What was a type in the OT land of Israel will become fully realized eternally
Acts 20:32
And now I commend you to God and to the word of His grace, which is able to build you up and to give you the inheritance among all those who are sanctified.
Notice it is for those who are sanctified, see Romans 6:22 - But now having been freed from sin and enslaved to God, you derive your benefit, resulting in sanctification, and the outcome, eternal life.
Acts 26:15-18
And the Lord said, ‘I am Jesus whom you are persecuting.
But get up and stand on your feet; for this purpose I have appeared to you, to appoint you a minister and a witness not only to the things which you have seen, but also to the things in which I will appear to you;
rescuing you from the Jewish people and from the Gentiles, to whom I am sending you,
to open their eyes so that they may turn from darkness to light and from the dominion of Satan to God, that they may receive forgiveness of sins
and an inheritance among those who have been sanctified by faith in Me.’
Paul was sent to preach not only forgiveness of sins, but an inheritance. And he did just that. Read Ephesians 1. Paul was speaking strictly about an inheritance, and declared that the the mystery of the gospel is that Gentiles are now included in the inheritance which was once promised to only Israel. See also Romans 11, where he says that Israel has been cut off and Gentiles grafted in.
He's not saying that Gentiles couldn't go to heaven before the cross, or that Jewish people are excluded from heaven now. We know from scripture that both of those premises would be false, seeing many Gentiles of faith in the OT, and Jewish Christians in the NT.
Paul wrote that those who live ungodly will not inherit the Kingdom of God (Gal 5) and that those who live ungodly will not have an inheritance in the Kingdom (Eph 5)
He never said that ungodliness will exclude someone from going to heaven but that they would forfeit their inheritance
1Peter 1:4 tells us that there is an inheritance stored up in heaven.
I don't believe scripture tells exactly what our inheritance will be, or what it will look like. But one thing seems clear - it is a possession. And it is called eternal life. And it is for those believers who have forsaken all and followed Christ. Not that they earn it, but that Christ is not ashamed to call them brethren and share His inheritance with them.
Jesus told many parables about being judged by what we've done, with what God has given us. And each time the judgment comes, He said - take from this one and give to that one. He's not talking about taking someone's place in heaven and giving it to someone who already has a place in heaven, He's talking about taking a slothful servant's inheritance and giving it to the one faithful servant.
Who are the faithful servants? The Elect. Many are called to suffer (with Christ), but few are chosen (as sons, to receive the inheritance). They will be vessels of honor, while nominal believers will be vessels for common use - saved as one escaping the flames