There are a lot of things in Revelations that cannot be accounted for in history. For example:
Revelation 21:1 And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea.
Tell me when that was fulfilled? What is the sea? Because it looks to me like there is plenty of sea. I don't see where the great bowl judgements were fulfilled in the first century. When did a third of mankind ever die? When were a third of the seas made bitter? When did locusts with the face of men attack people?
Hal Lindsey never claimed to be a prophet, only a guy who was trying to make sense of scripture and who had no more special revelation than you or I. When Hal Lindsey made is comments about the generation that saw the rebirth of Israel he had a string of about 4 or 5 "if's". Those if's included "if a generation meant 40 years", if the fig bearing fruit was correctly interpreted as the rebirth of Israel as a nation", if, if, if.
The following facts remain. The generation that saw Israel reborn has not completely passed away yet, but obviously the interpretation of 40 years was wrong or the start point is wrong.
Alternatives to the rebirth of Israel have been advanced as well. The recapture of Jerusalem, or perhaps the return to Israel's full borders.
The passage that "one generation shall not pass" comes from makes it clear that the second coming of Jesus will be a sudden event like in the days of Noah. I believe it is wrong to interpret the resurrection as the "first" second coming.
37 But as the days of Noe were, so shall also the coming of the Son of man be. 38 For as in the days that were before the flood they were eating and drinking, marrying and giving in marriage, until the day that Noe entered into the ark, 39 And knew not until the flood came, and took them all away; so shall also the coming of the Son of man be. 40 Then shall two be in the field; the one shall be taken, and the other left. 41 Two women shall be grinding at the mill; the one shall be taken, and the other left. 42 Watch therefore: for ye know not what hour your Lord doth come.
Likewise I believe it's wrong to consider the first rapture as the "first" second coming, since Jesus never returns, we meet him in the air. In the following passage, Revelations clearly mentions two raptures. Everyone who participates in the first is considered holy. The second occurs right before the great Judgement.
Rev 20:4 And I saw thrones, and they sat upon them, and judgment was given unto them: and I saw the souls of them that were beheaded for the witness of Jesus, and for the word of God, and which had not worshipped the beast, neither his image, neither had received his mark upon their foreheads, or in their hands; and they lived and reigned with Christ a thousand years. 5 But the rest of the dead lived not again until the thousand years were finished. This is the first resurrection. 6 Blessed and holy is he that hath part in the first resurrection: on such the second death hath no power, but they shall be priests of God and of Christ, and shall reign with him a thousand years. 7 And when the thousand years are expired, Satan shall be loosed out of his prison, 8 And shall go out to deceive the nations which are in the four quarters of the earth, Gog, and Magog, to gather them together to battle: the number of whom is as the sand of the sea. ...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. 13 And the sea gave up the dead which were in it; and death and hell delivered up the dead which were in them: and they were judged every man according to their works. 14 And death and hell were cast into the lake of fire. This is the second death. 15 And whosoever was not found written in the book of life was cast into the lake of fire.