Yes, but and this is a big but.....we must not overlook the very next verse that says:
"And such were some of you: but you were washed, you are sanctified, but you are justified in the name of the of the Lord Jesus........"
We all sin. We all make mistakes. This section was a warning against moral laxity. Paul did not want Christianity confused with the sects that permitted such things. People whose lifestyles exhibit the fruit of wickedness show they are unsaved and will not inherit the kingdom of God. Those who walk away from it are cleansed and therefore will inherit the kingdom of God.
Later Paul says "all things are lawful" (v12) Apparently some of the Corinthians were trying to use their Christian freedom to justify their sins. Paul here is insisting that Christian liberty is limited by two considerations; Is the practice helpful and will it enslave?
The Corinthians were a mess. They were taking advantage of their freedom in Christ. They were celebrating a bit too much in their freedom from the OT law. Yes we're set free but not free to sin at will. We are set free and should be walking away from those sins that will hold us down.
Absolutely, KFC. I should have quoted the entire passage (as it is very relevant to much that is going on in the world today. Corinth was a mess and we are too). In this list of sins similiar to those given in 1Cor.5:10-11, St.Paul explicitly teaches that those who commit these sins will not get to Heaven, that is will not gain eternal salvation. There's no mincing of words. The whole list is a kind of explanation of what "unrighteousness" means. Not only those who go against righteousness who wrongly go to law or defraud others, righteousness, justice, in the language of the BIble, is equivalent to holiness and therefore is opposed to every kind of sin.
We can certainly relate St.Paul's admonition, "Do not be deceived" to situations in our day and time. He is saying that the Corinthians are not to make out such actions as "good" and that is as bad as to commit them. In Corinth and other places, there were false ideologies which interpret sinfulness as virtue.
So, yes, we have free will and God's map to real freedom is following the Ten Commandments. Like Christ, we can't render God's Commandments null or be comprimising with evil and evil doers. When you think about it, this is what abounds nowadays. Free will is denied by dominant psychology or ideology and we are told that we're victims of circumstance, birth, and our choices in life are determined by our disfunctional families, taumatic childhoods, and a big one--patriarchial structures, economic injustice, etc, etc.
To get back on point, humans possess free will and have the ability to determine our thoughts and actions and we are ultimately responsible for those and will be held accountable for those before the Judge.