I'd like to hear a pedobaptist response to this section of Fred Malone's pamphlet:

The New Covenant Sacrifice

To say that all physical infants of believers are "in" the New Covenant as the infants of Abraham were "in" the Abrahamic and Sinaitic Covenants violates the doctrine of particular redemption. Hebrews 9 reminds us that God's covenant requires mediation through blood. The Passover Lamb brought physical deliverance for all Israel because all ate it. The Annual Atonement (Lev. 16) was offered on behalf of the whole assembly, all Israel. Of course, these sacrifices could not cleanse the conscience, but their design was for the covenant people of God in the Old Testament. If Christ's sacrifice is offered up only for His elect people as the "New Covenant in My blood" (Lk. 22:20; Mk. 14:24), how can the unregenerate children of believers be said to be "in" the New Covenant, church, and kingdom without an effectual Mediator? They cannot. Indeed, Heb. 9:15 defines Christ as an effectual Mediator of the New Covenant to insure that "those who are called may receive the promise of the eternal inheritance." Can one be said to be "in" the New Covenant or church without a Mediator? Not on the basis of the concept of the church in the New Testament. Though all would agree that false professors were addressed as members of the church for which Christ's effectual blood was shed, yet they were so addressed on the basis of their profession, not on the basis of their parents' faith. Even then, they were to be put out of the church if their profession proved spurious by their life. Yet there was some outward evidence to designate them "in" the church. But there is no clear basis for saying infants of believers are "in" the church unless we are also willing to say that they are "in" the "church of God which He purchased with His own blood" (Acts 20:28). No, if an infant is said to be "in" the New Covenant administration of the one covenant of grace and "in" the church without effectual mediation, severe violence is done to the biblical truth that "Christ loved the church and give Himself up for her." Can an unregenerate infant be called "in" the church by Christ's effectual mediation and never receive salvation? Absolutely not. Therefore, violence is done to the doctrine of particular redemption.

The covenant of grace requires the blood of an effectual Mediator. Christ is the Circumcision and Isaac of the Abrahamic Covenant. Christ is the Paschal Lamb and Annual Atonement for its continuation through Sinai. And Christ is the sole Mediator of the New Covenant fulfillment as the effectual sacrifice for all those considered "in" the New Covenant, Christ's redeemed church. These redeemed ones–and only these–are the New Covenant participants.

True godliness is a sincere feeling which loves God as Father as much as it fears and reverences Him as Lord, embraces His righteousness, and dreads offending Him worse than death~ Calvin