Chances are if your local church uses a confession (historical or current) you will have to address the issues they teach. If you are an ardent follower of the SBC, Gospel Coalition or T4G crowd (especially the founding documents) you can'd avoid this issue. Nearly every document either favors or exclusively addresses Amillennialism or Covenant Theology. Issues such as the Church and Pneumatology cannot go untouched in these issues either.
Apart from these groups, both the Westminster Confession and London Baptist Confession are not Dispensational or Premillennial friendly. So yes they think it matters.
He are some Interpretation basics for reminders (definitely not exhaustive). All of these to one extent or other must be ignored or selectively applied to produce both Covenant Theology and Amillennialism.
First, a literal grammatical historical method of scriptural interpretation (including all and not some areas of systematic theology) is most consistently available only within dispensationalism. Out method of interpretation should include every area of theology. Ecclesiology (church) is just as important as Eschatology (last things) or Soteriology (salvation). We don't start with one verse or two and read them into all the Bible.
Second, allowing the local context of any given passage to speak authoritatively and standing on its own (and not subjectively reinterpreted by supposedly "clearer" passages elsewhere) is only possible within dispensationalism. It is all to common an excuse to interpret multiple passages in light of one (or a couple) that you feel best defends your position. There are multiple texts addressing the fallacies which are created in this realm. The most popular fallacy involves word studies (think reading one definition into every place that particular word occurs). There are good reasons why Bible translators did not translate particular Greek or Hebrew terms the same way every time it occurs.
Third, a premillennial eschatology (which is not exclusive to this system) but is a exegetical and necessary consequence, is the only interpretive system which actually gives weight to (all and not some) of the details of each scripture passage. This is only possible within dispensationalism. Premillennialism is the only eschatology that give just weight to all the covenant promises made in the Old Testament. This includes land promises, the Davidic throne in Jerusalem (not peoples hearts only), and of course the future of the nation Israel. It is also the only position to best make use of all details in relation to kingdom prophecies (death, pain, suffering, peace, land, longer lifespans, etc...).
Fourth, the entire New Testament can be interpreted in a manner that does not detract, change, or modify in any way the interpretation of the Old Testament. This includes literal promises made to and not yet fulfilled to the nation of Israel. This consistent belief in God's promises (including land promises--very relevant today) is only possible in dispensationalism. (See comments in previous point).
Fifth, typology (which is not exclusive to this system) is not contrary to but perfectly complimentary to this system, as long as typology is restrained to the usage and/or implementation of biblical authors (not to the subjective creativity of every reader or a selective governing interpretive grid). Typology interpreted within the usage of biblical authors is only possible within dispensationalism. For example, Galatians and Hebrews involve types, with very specific literal Old Testament concepts. We don't create interpretive grids and reinterpret our Bible based on a New Exodus grid, number patterns, or two-age grids for a couple of examples.
Articles will be needed to add extra weight and evidence for all the above claims. Vast numbers of fundamentalist and even evangelical seminaries still teach and advocate dispensationalism. It is not outdated or archaic. Look at their doctrinal statements. Many are still (and for good, sound academic reasons) still dispensational premillennialists.
I am currently compiling another blog listing of all the seminaries that still teach, believe, and advocate the underlying hermeneutic for dispensationalism and of course premillennialism.
Feel free to disagree. Comments as always encouraged.
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