I agree it is a new theory. In looking at Genesis 1:1-3 I am trying to see how Ping sees two different periods and am not finding it. My reading of it leads me to believe it was all part of one process as explained at the end of verse 5 "So the evening and the morning were the first day."
The best thing is not to mix science with the Bible. Science is not there to disprove God. It only provides working models, which—work but are not necessarily "true."
I don't see science as the enemy of TRUTH and the understanding of natural processes will reveal GOD.
Rom. 1:20 "For since the creation of the world His invisible attributes are clearly seen, being understood by the things that are made, even his eternal power and Godhead, so that they are without excuse,"
I'm in agreement with you, wmfights. The big bang/inflationary model of the universe appears to have very strong evidence in support of it, and I think it is hardly at odds with Genesis 1 and the Gospel of St. John 1:1-5. What it essentially says is the universe had a beginning -- the most theological statement that science has ever made -- and from that beginning, the cosmic microwave background radiation (the harmonic echo of the creation event that pervades the entire universe to this day) can be used to date the universe as having an age of about 15 billion years.
Indeed, the 2006 Nobel Prize in physics was awarded to John Mather and George Smoot -- who are associated with the cosmic background explorer (COBE) satellite program launched by NASA in 1989 -- for their work on cosmic radiation, which helped to pinpoint the age of the universe and lent additional support to the big bang/inflationary model of the universe.
To me, the big bang can be understood as God's speaking of the Word -- the Logos, the Son of God -- of the Beginning, "Let there be Light!" From this primordial light was everything in the universe made, from the periodic table of the elements, to living creatures.
And your citation of Romans 1:20 on this question is definitely appropriate! IMHO FWIW. Science cannot be the enemy of Truth, for it is the child of Truth.... The divine revelation given through the created world itself is what science can explore, and does.