We extend the standard Feynman-Deser approach of held theoretical deri
vation of Einstein's gravitational theory. We show that it is possible
to obtain a theory that, incorporates a great part of general relativ
ity (GR) and can be interpreted in the standard geometrical way like G
R, as far as the interaction of matter to gravity is concerned. The mo
st important distinction of the new theory concerns the gravity-to-gra
vity interaction. This theory satisfies all standard tests of gravity
and leads to new predictions about gravitational propagation. Since th
ere is a strong expectation that the detection of gravitational waves
will occur in the near future, the question of which theory describes
nature better will probably be settled soon. (C) 1997 Academic Press.