I think these diagrams help show where Protestantism stands on how authoritative tradition is when compared to Eastern Orthodoxy and Roman Catholicism:


(Diagrams by C. Michael Patton of Parchment & Pen blog, found in his In Defense of Sola Scriptura series.)
I'm an adherent of sola scriptura myself. It's those solo scriptura people---the "Me, My Bible, My Jesus" folks---who think they can divorce themselves from tradition altogether. We do believe in the authority of tradition, but it is less central to our beliefs than it is RCs and EOs (and arguably Mormons, though that depends on who you talk to).
As far as the ECFs go, I don't read them thinking "well, they agree with Protestantism here and that's where they're right, and here they disagree so obviously they're wrong." I prefer to just read them on their own and not pass too much judgment on them. I say that they're wrong on some things though because there's some crazy stuff in there which no Christian tradition today would agree with. It's kind of like Journal of Discourses for traditional Christianity.
My real gripe with them is that they divorced themselves from the Jewish context in which the New Testament was written, which was their biggest mistake in my book. Admittedly evangelical Christianity hasn't done much to fix this problem, but I guess I've given up on having a religion that has everything that I want.