Not at all, though it's a major point.
Unfortunately without that meaning, the statement is completely meaningless. But there are far more points of support than this - similar claims are repeated in several other places in the New Testament, and the entire tone of the writers of the New Testament reflects an expectation that the "end" would come in their lifetimes, or at least during the lifetimes of their immediate readers.
but to each his own ... we can both enjoy our freedom in Christ wrt escatology.
Very true.
Here is a rather lengthy rebuttle of the preterist position ... not for the sleepy.
I'll take a look; thanks.
Actually, this one is more to the point ...
http://www.pre-trib.org/articles/view/matthew-24-and-this-generation
The whole site is chuck full of escatological musings.