I have been slowing working through an excellent book, Believer's Baptism: Sign of the New Covenant in Christ, edited by Thomas Schreiner and Shawn Wright. The contributors work through the Biblical evidence of baptism, and show quite convincingly (so far, I am only part of the way through the book) that the clearest teachings of Scripture regarding baptism consistently point to baptism, like the other ordinance of the church, the Lord's Supper, as being exclusively reserved for believers and not for the infant children of believers.
Despite what I may disagree with John McArthur about concerning the end times, he has an excellent article on the scriptural refutation of paedobaptism . I especially liked this paragraph….
One other line, one that likely would rile up most Calvinists…
Among the Calvinists—among the Reformed people—there is a very important principle which many of them like to use. It’s called the "regulative principle" and it says this, "If Scripture doesn’t command it, it is forbidden." Now, if they would just stick with that, they would be all right. If Scripture doesn’t command it, it cannot be introduced into the church as normative. The theme of the Reformation, of course, "sola fide," "sola gratia," "sola Christus"—that is faith alone, grace alone, Christ alone—also, "sola scriptura," Scripture alone. The theme, the great byword of the Reformation was "Scripture only, Scripture only, Scripture, Scripture, Scripture." And yet, if you go to Scripture, you cannot find one single solitary word about infant baptism—it’s not in the Bible.
Time has come, after all these years since the Reformation, to strip off these remnants of Catholicism that never got dealt with during the Reformation and have been perpetuated, and return to the simple New Testament design.
Quite right! With all due respect to my paedobaptist brethren, infant baptism strikes me as being sentimental eisegesis, something done out of tradition. Unlike virtually every other doctrine among Reformed folks, baptism is the one area where tradition (i.e. all of the early Reformers were paedobaptists!) trumps Scripture.