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Oh yes, that’s definitely there. It’s said that because of disobedience Israel has forfeited the promises of God and that it’s now the “church” who is the new spiritual Israel and it has inherited the promises of God to Israel, because it’s the new spiritual Israel.

That was established in Catholic doctrine from way back in maybe around 300 or 400 AD and carried over in the Protestant Reformation, by default. It has produced “institutionalize anti-semitism” in the segment of the church that holds to this.

It’s also called supersessionism, too.

http://en.wikipedia.org/wiki/Supersessionism

You might also note that the majority of the Christian church, worldwide, holds to this ... and they are absolutely wrong!

I have never heard that line of preaching in a main stream Christian church[.]

If you're talking about mainstream Christianity in terms of major denominations, then you're talking about churches of those denominations that hardly, if ever, preach on prophecy. They frequently adopt post-millinealism or amillennialist theology. The pastors of these churches, if they speak on the Second Coming of Christ, frequently state that the Church of Jesus Christ has replaced Israel.

If you are talking mainstream Christianity limited to churches and denominations who follow the Reformed tradition of Christianity, then you are talking of churches, many of which heartily defend Replacement Theology. This is teaching in which the Church has replaced Israel as part of their stance as amillennialists. The amillennialist position is that the church is the New Israel.

Unfortunately, Replacement Theology is just simply full of holes in theology.

“A common misconception in Christian theology is that the church replaces Israel”
I have never heard that line of preaching in a main stream Christian church

It's a common caricature.

For a recent (and ignored) thread on this: The Church and Israel in the New Testament.

Here’s one of the mainstream churches and an example of how “Replacement Theology” works out in everyday practice!

Presbyterian Leader to Jews: Abandon Israel For America
http://www.freerepublic.com/focus/f-news/3169054/posts

In a posting on Facebook, Reverend Grimm addressed the Jewish people by writing, “America is the Promised Land. We all know this. Come to the land of opportunity. Quit feeling guilt about what you are doing in Palestine, Jewish friends. Stop it. Come home to America!”

While many Presbyterian divestment supporters have claimed that they are not against Israel’s existence, only its “occupation” of “Palestinian territory,” this latest incident appears to prove otherwise. In fact, many within the Presbyterian Church have begun to express alarm at the anti-Israel stance of much of their leadership. One group of prominent Presbyterian leaders recently noted that “Zionism Unsettled,” the pamphlet produced by Church members to make the case for divestment, had been endorsed by notorious white supremacist David Duke, who praised its utilization of racist terminology he originally popularized.