This is not speaking of judgment in the final sense, since all judgment has been given to the Son alone (Rom. 14:10; 2 Cor. 5:10; Heb. 9:27; 1 Peter 4:5). There is certainly a sense in which judgment in this world is a present reality (John 12:31).
However, I believe the image here is of the saints overcoming the world, and in a very real sense we already exercise judgment since we have been raised up and are seated with Christ, the supreme Judge, in the heavenly places (Eph. 2:5,6). This is the vindication of the Church over the authority of the Jews, old national Israel, who had exercised ecclesiastical judgment (cf. Matt. 23:2). The Church now occupies the responsibility of sitting, not in Moses’ seat, but on the throne with Christ.
Also, I don't think you should be putting premil and dispensationalism together as though they are one and the same. I don't believe God is done with the Jews and Israel, or that the millennial reign has begun. However, if dispensationalism believes that there are different criteria for justification in different eras I do not believe that.
I intended to simply highlight the common understanding between both groups is the future millennial reign of Christ on the earth from Jerusalem.
Don't the Amill's simply skip the millennial reign and move right into the eternal one-the New Heavens, New Earth, New Jerusalem?