Steve addresses disputes between Calvinists & Arminians over this passage in regards to soteriology, namely how we are saved and whether we can lose our salvation. In addition he speaks to fact that though we received salvation, there are aspects of it that we are yet to receive. He also refutes the dispensationalist idea that the Church was not mentioned in the Old Testament and that Daniel 9 prophesied specifically about the Christian Church in the 1st century.
1 Peter 1:3-12
New King James Version (NKJV)
A Heavenly Inheritance
6 In this you greatly rejoice, though now for a little while, if need be, you have been grieved by various trials, 7 that the genuineness of your faith, being much more precious than gold that perishes, though it is tested by fire, may be found to praise, honor, and glory at the revelation of Jesus Christ, 8 whom having not seen[a] you love. Though now you do not see Him, yet believing, you rejoice with joy inexpressible and full of glory, 9 receiving the end of your faith—the salvation of your souls.
10 Of this salvation the prophets have inquired and searched carefully, who prophesied of the grace that would come to you, 11 searching what, or what manner of time, the Spirit of Christ who was in them was indicating when He testified beforehand the sufferings of Christ and the glories that would follow. 12 To them it was revealed that, not to themselves, but to us[b] they were ministering the things which now have been reported to you through those who have preached the gospel to you by the Holy Spirit sent from heaven—things which angels desire to look into.