I think you are confusing Calvinism with a comparison between Covanent and Dispensational theology.
Basically, Calvinism is compared to Arminianism.
No doubt that you know more about the various developments within the Calvinistic tradition than I do. As I said, I'm a Lutheran, so I look at Calvinism through the eyes of the 16th century disputes between Lutheranism and Calvinism. I know that there were those after Calvin that developed some other views such as federalism, et al. I assume that Calvin's TULIP is still valid within the Calvinistic community?
I realize that Arminianism is a reaction to Calvin's view on “double predestination,” but I have little use for Arminianism. My wife was raised in the PCA, and they had joint VBS with the Methodists. I could never understand that.