Originally posted by epiphinehas
What does the Magisterium of the Roman Catholic Church have to say that is so different from what I've said? And what scriptural proofs are they deriving their claims from?
As Dr. Scribbles rightly points out, one group can't be "preeminent" and "equal" at the same time. A "deeper understanding" of your particular fairy tale doesn't re-write the meanings of words in the English language.
As to what the RCC believes, it's in their Cathecism at 839-40:
839 "Those who have not yet received the Gospel are related to the People of God in various ways."[325]
The relationship of the Church with the Jewish People. When she delves into her own mystery, the Church, the People of God in the New Covenant, discovers her link with the Jewish People,[326] "the first to hear the Word of God."[327] The Jewish faith, unlike other non-Christian religions, is already a response to God's revelation in the Old Covenant. To the Jews "belong the sonship, the glory, the covenants, the giving of the law, the worship, and the promises; to them belong the patriarchs, and of their race, according to the flesh, is the Christ",[328] "for the gifts and the call of God are irrevocable."[329]
840 And when one considers the future, God's People of the Old Covenant and the new People of God tend towards similar goals: expectation of the coming (or the return) of the Messiah. But one awaits the return of the Messiah who died and rose from the dead and is recognized as Lord and Son of God; the other awaits the coming of a Messiah, whose features remain hidden till the end of time; and the latter waiting is accompanied by the drama of not knowing or of misunderstanding Christ Jesus.
http://www.vatican.va/archive/catechism/p123a9p3.htm#III
The Jews may have been the first to hear the Word of God, but the rest of humanity is not a "fall back" position because God was peeved about the Jews rejecting him as in your weird theology.