It has been known for centuries. I disagree that it has been taught much in in the US since the beginning of the Second Great Awakening. In my fairly wide denominational and non-denominational experience, the point is seldom made from the pulpit, and when it is there is no lasting impression on the congregation. This one theological failure is a significant source of rot in the Church and, in particular, is largely responsible for weak, sappy evangelicalism.
Your point may be true in Evangelical circles. I do believe that it is fairly well known by Catholics.