Some good comments from John Frame on 'biblicism'.
'The term "biblicism" is usually derogatory. It is commonly applied to (1) someone who has no appreciation for the importance of extrabiblical truth in theology, who denies the value of general or natural revelation, (2) those suspected of believing that Scripture is a "textbook" of science, or philosophy, politics, ethics, economics, aesthetics, church government, etc., (3) those who have no respect for confessions, creeds, and past theologians, who insist on ignoring these and going back to the Bible to build up their doctrinal formulations from scratch, (4) those who employ a "proof texting" method, rather than trying to see Scripture texts in their historical, cultural, logical, and literary contexts. I wish to disavow biblicism in these senses. Nevertheless, I also want to indicate how difficult it is to draw the line between these biblicisms and an authentic Reformation doctrine of sola Scriptura. Consider, first, (1): Sola Scriptura is the doctrine that Scripture, and only Scripture, has the final word on everything, all our doctrine, and all our life. Thus it has the final word even on our interpretation of Scripture, even in our theological method. '