Although they may both feel the same, there's a huge difference between punishment and discipline. A punisher is angry at the punishee and takes out his hostility on him. The result is either fear-motivated conformity to the punisher's will or rebellion. A discipliner, on the other hand, is not angry. He metes out the discipline despite the fact that it hurts him to do so. The one who is disciplined is motivated to change because of his love for the one who disciplines. Although both the punishee and the disciplinee may receive "three licks with the paddle," the result will be vastly different.
Nowhere after the cross does the Greek text support the idea of God's punishing new creations in Christ. The word is chasten, or discipline. "Whom the Lord loves, He chastens." God took out all of His anger against us on the innocent Jesus who "became sin" for Believers. Punishment, on the other hand, is meted out on the unbeliever. He is under God's wrath.
I would be careful about applying Old Testament prophecies and teachings about upcoming judgment to the subject of discipline for new creatures in Christ. We live in a different venue than they did.
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