Replacement Theology affects your understanding of scripture in 2 major areas.
1. The return of the Jews to their land, and
2. The salvation of the Jews in the Day of the Lord.
To put it another way the two issues are Return to the Land and Return to the Lord! Clearly a great number of Jews have returned to the land, and a great number more shall return in days to come. But also it's quite clear that they have not yet returned to the Lord. You still have the veil of blindness on Israel and they are still enemies of the gospel as Romans 11 indicates. We have pretty well covered Return to the Land in the previous section. So let's get into the most important area, Return to the Lord.
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