Revelation is the most misunderstood and misused book of the Bible. The Branch Davidians and other cults used Revelation with deadly results. Fundamentalists have used it to prognosticate a future where the Antichrist and his One World Government mark people with microchips or barcodes during a seven year tribulation. After the Tribulation and a literal 1000 year reign, the literal heaven and earth is destroyed and replaced by another. A city 1500 miles high then lands itself on this new planet. All nonfundamentalists get tormented in a lake of fire for all eternity...
Of course, the Society's viewpoint is just as crazy. Trumpets blowing being conventions during the 1920's. All religions but theirs are Babylon the Great-thus everyone gets lumped together and all manner of hate speech is justifiable. Jesus comes and destroys seven billion people for all eternity. A literal 144000 are selected to rule over a great crowd of Jehovah's Witnesses who survive Armageddon. During this time, one could envision a scenario where a group of girl scouts who harmed nobody narrowly escape a flaming meteorite, only to die when an angel cracks open the earth underneath their bus--but after this, "New Scrolls" get printed, and the great crowd has "Bible" studies with the likes of Adolph Hitler and Joseph Stalin and they get a shot at an everlasting paradise.
On the other hand, Preterism says both the Olivet Discourse (Matthew 24 and parallel accounts) and Revelation were completely fulfilled by 70 AD. When one takes Old Testament metaphorical language, especially in regard to the 'Day of Jehovah' in 587/586 BC, then these New Testament passages make perfect sense.
For instance, when Jesus says, "this generation", what generation is he talking about? The generation he is speaking to. Within 40 years of his crucifixion, everything in Matthew 24 finds fulfillment. Likewise, Revelation (unlike Daniel) was not to be sealed for a later time. The things in it were to "shortly take place." According to Acts 2:17, the last days were already underway. According to Acts 4:25-27, passages such as Psalm 2 began to be fulfilled, not in 1914, or any future date.
The Wild Beast is the Roman Empire. In Revelation 17, five Kings have fallen (Julius Caesar, Augustus, Tiberius, Caligula and Claudius), one is (Nero), one is yet to arrive and be there a short while (Galba). Under Nero, a 42-month persecution broke out from 64 to 68 AD. The name Nero Caesar calculates out to 666.
When Isaiah spoke of "new heavens and new earth" toward those who were to return in 538 BC, what did he mean? They did not go to a new planet, but upon their return, they inhabited a "new land". Therefore, this parallels what occurred in 70 AD. The "old heaven and land" pass away…first century Jerusalem, aka Babylon the Great. A New Jerusalem, along with new skies and new land replace it--the things of the Old Covenant give way to the New Covenant.
Therefore, the Great Tribulation and Armageddon, in this viewpoint, is already an accomplished fact.