I lean more in that direction than to dispensationalism, since I think it works on paper. I haven't done a lot of research on it, and it hasn't come up except in discussions here. So, it's not exactly a high priority. I've more important issues I'm currently neglecting. :)
As I see it, God's told different people what He expects of them, and what He offers them in return. (Jesus told a parable about this, IIRC.) We see different people co-existing, with different expectations, Call those covenants if you want, or don't. I think they're more relevant as subsets of a discussion of Final Judgement, but we're not having that discussion in this thread.