Groups like Jews for Jesus have got to find stuff like this incredibly frustrating.
An evangelical pastor and an Orthodox rabbi... have apparently persuaded leading Baptist preacher Jerry Falwell that Jews can get to heaven without being converted to Christianity... Falwell had adopted Hagee's innovative belief in what Christians refer to as "dual covenant" theology.
Basically, the idea of "dual covenant theology" is that there is one salvation for Jews and another for Christians. Though not Dispensationalism (which is a sort of opposite to Covenant Theology) itself, the idea is often contained within the Dispensationalist view. Rather than viewing the Bible as a continual thought, as Covenant Theology does, Dispensationalism divides the Bible (and all of time) into chunks called dispensations. The Law and Grace are mutually exclusive ideas, not two sides of the same coin. Israel and the Christian Church are not a part of the same family, but two different families. One group is saved through the Law, the other by Grace.
The belief that Jews can be saved though the Law and not through Grace should be problematic for most Christians. If the Law was ever capable of truly effecting salvation, what was the point of Christ's death and resurrection? Was not the old system good enough? As I said at the beginning, groups like Jews for Jesus must find themselves thoroughly frustrated by statements like the above coming from Christians. Their entire reason for being is obliterated by errant doctrines like dual covenant theology.
I am not a huge Hagee or Falwell fan anyway. Still, it frustrates me that they invent their own doctrines instead of sticking to what is actually in the Bible. I would love to ask them how they deal with the book of Hebrews, in light of their new belief.