Tom,

I use to be in Founder's Conference of the SBC myself. Roger Nicole, Th.D., Ph.D., D.D .(Contributing Editor to the Founders Journal), lays out a similar argument, but agrees with my assessment of a proper hermetical principle. Nichole uses a little phrase that "it is grace, not race" in a debate he had with R.C. Sproul on the issue. Though one may claim to believe in Covenant Theology different individuals believe in different continuities of it...Fred makes the first tree the NT Tree and then adds branches of the OT as he sees fit in his hermeneutic. Here he is dispensational not covenantal.