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I think the major distinction between our positions is that Paedos equate those in the new covenant with the visible church, and Credos equate those in the new covenant with the body of Christ.
I am sure that someone else has probably characterized the difference this way before, but this is something I thought of during the recent discussions we had on infant baptism. I think this may be the simplest way to draw a distinction between the two positions.
What is interesting is that I can find no reference in the Bible to the new covenant relating to both wheat and tares. The only references I find are those which indicate the new covenant consists of those who have been born again…those who are already a part of the body…the Bride of Christ.
Therefore, while I certainly understand the Paedo’s sentimental reasoning with respect to assuming their children are in the covenant of regenerated sinners, there is no scriptural support that they are. I must conclude, based upon the explicit descriptions within the Bible, that the new covenant is indeed referring to those within the Bride of Christ, and not merely those persons who may be found within the visible church.