I think the best answer to your question is found in the author's concluding remarks:
· The Christian Church began on the day of Pentecost (Acts 2.)
· There will be a real 1,000 year reign of Christ some day in the future.
· The geo-political prophecies of the Old Testament will all be literally fulfilled.
· Ethnic Israel will be nationally converted in the end-times (Zech. 12.)
· Christians are not under the Law, including the Fourth Commandment.
· The Kingdom is not exhaustively experienced in the earthly church.
· Christ’s kingship is not fulfilled until He sits on David’s throne in Jerusalem.
There is no denying that the physical nation of Israel and the Jewish people predominate Dispensationalism in all its forms. Thus, due to this emphasis, Dispensationalism suffers from an erroneous hermeneutic which has serious affects on how one reads and understands Scripture. One of Dispensationalism's major tenets, including PD, is the establishment of a physical kingdom of God on earth, either before, during or after an alleged "rapture" of the Church. Not only is this untenable, but for me it is antithetical to the entire purpose and sufficiency of Christ's atonement.
Perhaps one of the better evaluations and critiques of Premillennialism has been written by Cornelis Venema here:
Evaluating Premillenialism. In regard to the flawed heremeutic, although PD tries to distance itself from the old "literalism" of Darby, Chafer, Ironside, et al of the classic Dispensational camp, it hasn't shaken off much of it errors... see
HERE.
Lastly, PD is not the same as NCT, although there are individuals within the PD camp that embrace much of NCT. There are similarities in regard to the understanding of God's moral law and especially in regard to its perpetuity for the NT Church.