Which parts of the Abrahamic covenant happened relatively soon and which was still future?
The first two parts—making out of Abraham a nation and putting them in a geographical area of land—were consummated relatively soon. The third part remained future: God Himself would someday come and be their king over a glorious kingdom on earth, not in heaven.
Les explains the Abrahamic covenant as having three parts. The first part was that God would make out of Abraham a nation of people. The second part was that He would put them into a geographical area of land. Those first two did not take all that long until they were consummated. The third part was still future: someday down the road God would come Himself and be their king over a glorious kingdom, not up in heaven, but on earth. Les also relates this to God making the nation of Israel a special race, the Jew, and using Israel to funnel back into the nations of the world a knowledge of their God, an opportunity they rejected.