Read Ephesians 2 in light of Romans 9-11.
Ephesians 2: 11-12 relates how things were before Israel fell. It is why verse 17 refers to Israel as "them that were nigh."
Ephesians 2: 13 then relates how things began to, and have continued to work this side of Israel's fall.
With Israel's fall, the Prophesied restoration of its commonwealth, Acts 1:6; Acts 3:19-20, and all the rest, and what was Prophesied would be through that Nation's rise, Isaiah 2:1-5; 60: 1-3, Acts 3: 24-26, was now not the issue - not during "this Mystery" Age.
And it will not be the issue once more, until some point after "the fulness of the Gentiles be come in," Rom. 11:25-29.
In between Romans 11:25 and 11:26 is Isaiah 60:2's return of the Lord in His wrath to purge Israel of its rebels, and "restore again" their kingdom, Acts 1:6, 11; Acts 3:23; Matt. 13:37-43.
In this, Romans and Ephesians as to these issues, are in light of Israel having been temporarily concluded Uncircumcision - "under sin" with the Gentiles, Acts 7:51 in light of Matt. 12:30-32, etc.
Israel per se is not the issue in this matter, whether they be grafted out or in, the issue is the olive tree, the issue is our common access to the Father, we are now made partakers of the promises and fellow citizens of the commonwealth.
I understand your point well enough though but I see it differently.
The reason the church has failed to capitalise on the great promises [how many they are and how great] is not because Israel is laid aside although we know ethnic Israel is laid aside until the fullness of the Gentiles be come in...but as long as there is a remnant there is Israel, it is their commonwealth we are made fellow citizens, their promises we are made partakers of...their olive into which we are grafted.
The problem is the church is by and large cut off from Israel and has been since the very early centuries. And still is today, the Catholics were the first to cut Israel off, the Lutheran reformation carried that doctrine over, the Covenant people also cut Israel off.......
And so does the MADianites........it is this separation between Jew and Gentile that was the cause of such fierceness in Pauls argument. Because Peter withdrew himself, not because he tried to join the Gentiles. It was a terrible row, so much so that it cost Paul John Mark and Barnabas.
Paul was fighting for total equality for the Gentiles....yet without obedience to the law.
It IS about the Millennium, for the Mill is the Kingdom, the Commonwealth and I've always been glad that MAD preaches the Mill.
But WE the church are the kingdom now in the earth, the kingdom is in us, in our aspirations, in our prayers and it ought to be in our preaching.
What?
The promises of God, pardon for sure and the new creation...but all those other good promises too. Healing, deliverance, prosperity, victory over evil and over the evil one.
There is a partial realisation of this in the church, there always has been, take for example the Salvation Army, it is a coming about of the Kingdom of Heaven on earth [in it's early days] but I say...
I say the church has barely scratched the surface of all that God has prepared for His glorious church, we are living far, far, below what is potentially ours in Christ...we's suppose to be an out of sight more glorious people than the Jews were with there less glorious covenant.