Interpretive Question on Colossians 3

In Colossians 3:3 Paul says, "you have died with Christ". In Colossians 3:5 Paul says, "Put to death, therefore, what is earthly in you". It is apparent that the death of Christ is what motivates us to "put to death" what is earthly in us. As I have read through commentaries it seems that they are making a much bigger problem out of this than is necessary. Romans 6 gives us a pretty good idea of what Paul is saying in Colossians 3.

Here is my question, for any that have studied Colossians, Romans 6, or the relationship between the New Man and the Old Man:

Would it be appropriate to paraphrase Paul's point as this, "He's dead (the old man) now put him in the morgue so he doesn't stink up the joint? Clean up all the filth that this dead corpse has caused and put to death every remain there is of him."

I am not so much interested in the grammatical structure of my paraphrase--I understand it is rough. I am interested in knowing if you would agree with the theology undergirding such a statement.