Inerrancy - What about those saints in Matthew 27?

Apologianick at Deeper Waters is tracking the ongoing debate between Mike Licona and Norm Geisler on whether the resurrection of the saints mentioned in Matthew 27 was an allegorical vibration from apocalyptic literature or whether it was really and truly something that happened. Licona holds to the former position and Geisler holds to the latter.  (Nick is invested in the issue because Licona is his wife's father.)

Here is a further post on the issue, which includes a letter signed by various bible scholars who opine that Licona's position does not conflict with the doctrine of "biblical inerrancy," which, if that's true, makes literalism and fundamentalism a whole lot less literal than it has previously been.