Denial is not just a river in Egypt.
This is about the best response one can expect when the dispensational raw assertions are challenged.
"Oh look, there's a place in the middle east called 'Israel'. This must be some fulfillment of prophecy since the Bible also speak of a place called 'Israel'." How silly. But, where is the priesthood? Where is the temple? Where is the division of the land by tribes? Where are the tribes and the elders for that matter? And who are these secular/atheist/reform/conservative/orthodox Jews that populate the land? Where is the religion of Abraham, Isaac, Jacob, Moses, Jesus, and Paul in this modern state?
And when the "prophecies" don't quite work out according to plan; revise, revise revise. Get another book out, quick. Remember Edgar Whisenant and his rapture predictions, all based on modern "Israel" of course? Remember Hal Lindsey's Terminal Generation? It's now classified as a "Used, Rare, Out-of-Print, Hard-to-Find Book". Or how 'bout John Walvoord's Armageddon, Oil, and the Middle East Crisis: What the Bible Says About the Future of the Middle East and the End of Western Civilization? Well, what did the Bible say, John? If you're still curious you can pick up John's book on amazon.com for 1 penny!!
We saw the same mumbo-jumbo from dispensational quarters when Saddam Hussein was in power making noises about "Babylon". The prophecy preachers were stepping on each other to get yet another book out explaining how "Bible prophecy" was being fulfilled even as the world watched.
The NT makes it clear that all the promises to Abraham were fulfilled in Jesus Christ. "Now the promises were spoken to Abraham and to his seed. He does not say, "And to seeds," as referring to many, but rather to one, "And to your seed," that is, Christ." They were not made to "seeds" of Abraham, that is "national Israel" or "Jews". They were made to the true "Seed". In Christ we find the fulfillment of the kingdom promises.
And we know that ultimately Abraham was not looking for a physical inheritence in the middle east:
By faith Abraham, when he was called, obeyed by going out to a place which he was to receive for an inheritance; and he went out, not knowing where he was going. By faith he lived as an alien in the land of promise, as in a foreign land, dwelling in tents with Isaac and Jacob, fellow heirs of the same promise; for he was looking for the city which has foundations, whose architect and builder is God. ... But as it is, they desire a better country, that is, a heavenly one. Therefore God is not ashamed to be called their God; for He has prepared a city for them. (Heb. 11)
People are so gullible. But "It's obvious" is not a good enough answer.