I've started on a reply, not finfished yet, actually not even finished commenting on the first three veres, but will hopefully follow through with this.
Long story short - they put the letter above the spirit and ignored the two greatest commandments and focused on the externals ignoring the heart - that is what Christ is condemning here. That and some of the things that they "did" according to the references in the NT is that they failed to recognize the fulfillment of the prophecies that they taught, rejected the chief cornerstone, and plotted to and had Christ crucified - these are also some of the things we are to "not do according to their works".
Anyway has nothing to do with sola scriptura, I actually intend on not even mentioning the doctrine, but to just give comments and references with my aim to simply "call it what it is" without getting too caught up in "what it is not" (can I even do that and still be Orthodox? ).
Christ details what He rejects about the Pharisees and Scribes, BOTH their hypocrisy, and a bunch of their extra biblical traditions.
Any discussion of the spirit of the law is tangential to Christ's purpose, which is what both Mr. Wooten and I refer to.
Such a discussion is irrelevant to sola scriptura, but might be just fine in Sunday School.
From reading the text, I do not even think it is apparent that Christ rejects the Pharisaic traditions. On the contrary, he tells his followers to
A) do what the Pharisees teach them to do.
B) provides a justification for their authority.
Then, he says not to do what they do; but what they do, according to Jesus, is practice hypocrisy. In other words they don't do what they tell others to do.
Given all that, I frankly don't see how the most basic reading of the text wouldn't be
1) Obey the Pharisees, since
2) the Pharisees have the authority to bind burdens. However, since
3) the Pharisees do not lift the burdens themselves that they bind on others, i.e. they are hypocrites who do not practice what they preach,
3) (a) follow their instructions and (b) do not emulate their behavior.
[(a) and (b) are essentially synonymous, since by following the Pharisees' example, one would not be following their instructions.]
In other words, authority is not necessarily "personal". Avoid the easy-to-make mistake of thinking that because someone exercises God-given authority, their life is automatically pure and worthy of emulation. Authorities are not necessarily "better" than others. Their authority is delegated to them by God and is not intrinsic to them as a person, nor is it given to them based on merit, but by grace.
This fits with Christ's criticism in this passage of the Pharisees self-exaltation, including their self-appropriation of titles (as if they "deserved" them). It also fits with other saying of Christ, such as his discussion with Pilate about the nature and source of Pilate's authority.
Nowhere in this passage do I see condemnation of extra-biblical traditions, or endorsement of sola scriptura.