"... both religions believe where the Bible says that Jerusalem (specifically the Temple Mount) is where G-d chose to dwell on earth. I also believe the same Bible refers to Jews as "chosen people"."
Right you are, anotherview!
I hvae to say that all this talk about Jerusaleum is a bit ahead of where we are. At the moment there is barely a ceasefire. In the end there will be harder issues to deal with like Jerusaleum and Right of Return but any decision or compromise will be at least a decade off in my opinion.