TCI contributor Dr Littlejohn has recently published two posts on the life of the Italian Reformer which are well worth the time. See here for the long version, and here for the short version with more directly explanation of how Vermigli can serve as an example today. To quote Littlejohn:
We should welcome such opportunities, but with a sunny cynicism. We may find that if we keep on talking and studying Scripture and tradition, we will find common ground with some on justification, the sacraments, and more. But as long as the magisterium claims (as it certainly still does!) final authority to determine the shape of that common ground, the ecumenical bridge remains suspended over a chasm little narrower than the chasm that swallowed Contarini nearly five hundred years ago. In the end, our model must be a man like Vermigli–eager to seek reform from within a corrupt institution as long as he had reasonable opportunity to do so, but not hesitant to shake the dust from his feet and preach the pure gospel when faced with the choice of submission to man or to God.
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