What is the difference between the following two:
(A) The time is come for me to reveal what has lain hidden in my heart for so long.
(B) The time has come for me to reveal what has lain hidden in my heart for so long.
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The time has come...
is standard English, and is the version that's used today.
On the other hand,
The time is come...
sounds weird today and uses the archaic 'to be come' construction.
Here is Quackenbos in An English Grammar (1887):
In old writers we sometimes find the perfect of certain intransitive verbs formed with am instead of have, and the pluperfect with was instead of had. Thus: "Winter is [has] come"; "they are [have] arrived"; "when they were [had] gone"; "happiness was [had] flown."
These forms are now rarely used, and should be avoided. Do not take them for passive tenses, which they resemble, but parse thus: Is come is an intransitive verb, used for has come; in the indicative mood, perfect tense, &c