Mike Vinson "All Dispensational or Preterist interpretations of scripture deny the ever relevant character of scripture. What Mr. Manalo was doing when he said the four angels were four specific men at a specific time in history, was to deny that this part of this prophecy had any relevance to the men who read this book in the days of the apostle John. He was denying that those words had any relevance to any generation but his own and those who were living when those four world leaders were living.
What the Dispensational or Preterist approach to God's word does is to say that no one but the first generation at the time of Christ, as the Preterists teach, or the last generation just before the return of Christ, as dispensationalists teach, must "keep the sayings of the prophecy of this book." Considering the warning at the end of the book, this is not a very good doctrine. This book is addressed to "the seven churches." Read our study on The Spiritual Significance of The Number Seven. The use of the number seven tells us that this book is addressed to the complete church of God down through the past two thousand years. As this book clearly tells us, this prophecy is for "he that hath an ear" in every generation since Christ. The book of Revelation is but the capstone to God's Word. It cannot be separated from the rest of the Bible. "Man must live by every word that proceeds out of the mouth of God" not just the words of the book of Revelation. But the book of Revelation makes it clear that this is a book whose words are always "at hand," and it is a book which is to be "kept" and the things in this book must all "shortly come to pass." As mentioned earlier, this is stated at its very beginning and at its very ending:
Rev 1:3 Blessed is he that readeth, and they that hear the words of this prophecy, and keep those things which are written therein : for the time is at hand."
http://d.scribd.com/docs/1fla3exn7aabcvb2x9h0.pdf
