The subject recently came up on Paul Manata's Facebook page. Here's a discussion of the issue that took place several years ago. The principles addressed there are applicable to scripture interpretation in general, including other cases in which people often appeal to how scripture was interpreted in antiquity (John 6:53, Titus 3:5, etc.).
You can find an archive of many of our posts on baptismal issues here. On eucharistic issues, see here.