Both are true, I'm thinking: there will be no delay, and time will really end.
Yes, that song's an old favorite!
Rev. 20:12
"And I saw the dead, small and great, stand before God, and the books were opened; and another book was opened, which is the book of life: and the dead were judged out of those things which were written in the books, according to their works."
Rev. 20:15
"And whosoever was not found written in the book of life was cast into the lake of fire."
"Without (the quality of) faith, it is impossible to please Him for he that cometh to God must believe that He Is, and that He is a rewarder of them that diligently seek Him." (see Heb. 11:6)