Why Dispensationalism Still Matters - Baptist Bulletin

I thought this was an excellent summary:

Two of the more common hermeneutical and theological viewpoints within the world of Bible-believing Christianity are dispensationalism and covenant theology. [1] Each position represents a version of Biblical orthodoxy. Both perspectives generally affirm the major doctrines of the Christian faith, such as the inspiration and inerrancy of the Bible, the deity of Christ and the Virgin Birth, salvation by grace through faith in the blood atonement of Christ on the cross, the bodily resurrection of Jesus from the grave, and the visible and literal second coming of Christ. Thus it is possible for the two camps to recognize the members of the opposite group as spiritual brothers in Christ. However, they disagree strongly on many significant theological points. In particular, these disagreements often involve how one views the expression of continuity and discontinuity between the Old and New Testaments. Lurking behind this issue are certain hermeneutical and theological commitments by the two sides. In light of these commitments, this article is an attempt to articulate some of the major differences between the two views from the vantage point of a traditional dispensationalist...keep reading

Hat tip to Kathryn D.