Daniel 4:27, Justification, and the Law; Also, Was Nebuchadnezzar Saved?

[Sam Jer]

Wherefore, O king, let my counsel be acceptable unto thee, and break off thy sins by righteousness, and thine iniquities by shewing mercy to the poor; if it may be a lengthening of thy tranquillity. (Daniel 4:27)

What is Daniel talking about here? Why is he telling Nebucadnezzar to do good works to avert judgment?
Is he using the law in it's first use, like Christ with the rich young ruler?

Or is it the third use? Is this God's chastising of Nebuchadnezzar, and Daniel couneling him on sanctification to avoid it?
Speaking of which, was Nebucadnezzar converted to the true religion? Was he a troubled beleiver or was he a reprobate used for good?
If he was converted, was that is Daniel 2:47, 3:28-29, here in chapter 4, or do we simply not know?
If he was a reprobate, why is he speaking in the first person? Why is he writing scripture, and not merely quoted by it?

 

[Contra_Mundum]

Obedient works are the fruit of regeneration. Calling a person to true faith does not preclude summoning them at the same time to repentance and works in keeping. Daniel speaks "improperly," that is in a less-than formally precise way; but not untruthfully. He does not make righteous acts and mercy the basis for God's favor. He does point to a connection or tie wherein good is related to peace. The ultimate human interest is to find peace with God; and those who are at peace with God are marked by righteousness and mercy.

In my view, Nebuchadnezer is converted by the time of his first-person witness; but not before as best we can tell. His recovery is his conversion to true faith. Nebuchadnezer's story is a parallel to Pharaoh's from Exodus. The former's story ends in grace, the latter's in destruction. Moses' speech hardens his audience, as the LORD declared in advance it would; Daniel's eventually is made effectual unto salvation of God's elect.