You're right--almost. The difference is that Jehovah himself decided who would be destroyed. Not the FDS. So yes, Jehovah has a chosen people. The parameters for his chosen people are given by Jesus himself: Love Jehovah your father with your whole heart soul and mind, and love your neighbor as yourself.
Are you forgetting Acts 10:34? God is not partial.
The other problem with your arguement, you're defending the 'old' WTBS stance. You know, the one we all grew up with. But apparently, they've changed their own position, at least on their website. You didn't address that issue.