The meaning of the verse is this: he is waiting and he is also acting in the full expectation of the subduing and the conquest of all his enemies. Christ is now at the right hand of God the Father, equal with the Father, and he is currently engaged in the work of subduing all things unto himself; that is the work of the King of Glory.
This is one of the ways you tell the difference between a true convert and a false convert: a true convert wants to do what pleases God. You say, ‘I am seeking a new job. I have got to plan my career. I need to decide where I shall live. I desire God's guidance about marriage: who is to be my future life's partner. I want to do what God wants. O Lord, help me and guide me, deliver me from putting a foot wrong. Bring to life my thinking, my sense of discernment and wisdom. I want to be under the rule of God.’ ‘O no,’ say other people, who claim to have come to Christ but they make up their own minds what they do from day-to-day. They choose where they are going to live, what job thy are going to do, what they are going to buy, who they are going to marry. It is all a matter of their decision and God is not consulted. There is no difference between them and worldlings. But if Christ is subduing all his enemies to himself, and we been saved by his grace, then we our under his government and gladly and willingly submit to him. Every year, that we are left on earth the Holy Spirit is working in our lives and we are being challenged about our sins; we are becoming more Christ-like. One day when we enter glory there be a tremendous final work of transformation and all sin will be removed, but right now we our being subdued.
Over the centuries wave after wave of enemies of the cross of Christ have risen and fallen. Not so long ago, people were saying, ‘Communism – will this be the Antichrist?’ It has gone: at least, it has gone in that form. It has fallen, and we have seen enemy after enemy fall, and people who seem so influential today have passed from the scene. Like an arsenal of weapons that runs down, the great crowd of enemies have almost been spent. They have lived their lives, they have had their say, they have been brought to the grave: we are near the end of time; there are not many years left. Time has to run its course. When the final day of judgement comes it will not be possible for anyone to say to God – even if they were given the opportunity – ‘What you are doing is unfair. People are not so bad as this judgement says they are.’ Time has shown the full sinfulness of the human race. We shall see all the trouble that unbelief has caused, all the wars, all its unreasonableness and obduracy.