Another topic I'm struggling to put into words what it is I see.
For me, everything natural stems from the curse Adam inflicted. The order originally established by God was, Spirit, soul, then body. The spiritual realm was the dominant realm. Right now, the spiritual realm is our invisible realm. We can't comprehend what it "was" before the curse because we're still living in the aftermath of it. Before the curse, the spiritual realm was the dominant realm. But when Adam ate from the tree of knowledge, he left the spirit realm and passed through the gate leading into this realm.
And everyone born of his flesh, has this realm of the flesh as their dominant realm.
Now, the curse is simply the perversion of God's original order. Spirit still very much exists, but because Adam chose to live by knowledge rather than by spirit, it meant that this is the realm he chose to live in. The story of Noah's ark speaks to the curse being reversed. But it's going to take a flood to do it.
A natural flood? Nope, a spiritual one. It's the passage that speaks about the knowledge of the Lord will cover the earth as the waters cover the sea. That, to me, is a flood. And just as the natural flood led Noah into a new beginning, this flood is going to do the same for us in that as the Scripture specifically states that the ark of Noah (Noah means rest) comes to rest ( rest comes to rest) upon mount Ararat, which means the curse is reversed, that is a picture of God reversing the curse that Adam initated.
It came through the cross which redeemed the heart of man back to the Father, but it also redeemed everything else that was also affected by the curse, included this earth. But in this natural realm, the earth, and those who live on it, are bound to time. So "in time" this earth will be returned to it's original state. Which means, spirit will become the primary realm once again and flesh will become secondary.
So that which is invisible now, will be the visible realm to all, and that which is visible now, will still exist, but it'll be invisible. The spirit realm and the natural realm will reverse roles. So in the way I'm seeing it, Ray Smith is right on with his vision of things as well. And so is your synopsis. They are both right in that one, all things will be restored, and two, the physical will disappear, but still exist, and the spiritual will become visible.