read of his and other Jesus Seminar writers as well as their responses to critics.
My understanding was that the Jesus Seminar did not deny the divinity, they were instead simply trying to do as modern as possible critical scholarship on the historical man Jesus. Questions of theology and belief must then be decided by the churches and the individuals in question. German scholarship in the 19th century presented a similar challenge then to belief as the critical level of scholarship on the Bible was raised to a new level. One response is the more modern forms of liberal Christianity and the other was the birth of fundamentalism - a reactionary form of abject literalism. Honestly, I almost see those two sides as two distinct types of Christianity now almost 200 years later.
Borg is a Canon Theologian at an Episcopal Cathedral in Oregon and definitely considers himself fully and completely a Christian. I can only summarize his many writings here, however, I do encourage you to read them yourself. Challenging or not, it is excellent scholarship and Christian apologetics.
Borg, therefore, recognizes the historical Jesus prior to the Resurrection, and a Risen Christ thereafter. He is looking at experiences of Christ as real, not simply as visions or hallucinations either. It helps to be able to read the Koine Greek for the subtleties of language used to describe those experiences. This is a little more on what he means in a response to a critic:
http://www.patheos.com/blogs/marcusborg/2013/10/continuing-the-resurrection-conversation/
I recognize that Christianity as a religion with as many followers as it has and a history as long as it does surely continues to evolve and allows for many different takes on the central teachings therein. I think that each individual believer decides ultimately for themselves what is historical, what is allegorical, and what is mythological. Dogma and theology aside, I would no more say that Borg is more or less of a Christian than you are. Ultimately you both find meaning and purpose in the stories, teachings, and resurrection of Christ, even if you don't both agree on all of the specifics. That puts you both in a group of believers that share more in common than not.