Thus far, we've compared three strict Calvinists--John Owen, Arthur W. Pink, and Francis Turretin--and presumably their understanding of John 3:16 (especially, the term translated "world") with the clear words of the Lord Jesus Himself. Let's offer another popular strict Calvinist theologian and author--John Gill (1697-1771). Below are Jesus' words followed by my inference of John Gill's rendition of Jesus' words.1
Here's our Lord Jesus in John 3:16:
“For God loved the world in this way: He gave His One and Only Son, so that everyone who believes in Him will not perish but have eternal life.” (HCSB, italics added)
Here's John Gill, one of the most read and respected Baptist theologians among Baptist Calvinists, in my inference of his rendition of what Jesus said in John 3:16:
"For God so loved the Gentile elect of every nation that he gave his only begotten son that whosoever believeth in him should not perish but have everlasting life"2
1Gill writes in part in his exposition of the Gospel of John: "...nor is the whole body of the chosen ones, as consisting of Jews and Gentiles, here designed; for though these are called the world, (John 6:33 John 6:51); and are the objects of God's special love, and to them Christ is given, and they are brought to believe in him, and shall never perish, but shall be saved with an everlasting salvation; yet rather the Gentiles particularly, and God's elect among them, are meant; who are often called "the world", and "the whole world", and "the nations of the world", as distinct from the Jews; see (Romans 11:12 Romans 11:15) (1 John 2:2) (Luke 12:30), compared with (Matthew 6:32)..." (italics added). Hence, it seems a fair deduction to assume Gill would render John 3:16 as I inferred above.
2I ran across an even better rendering of John 3:16 from Gill in A Complete Body of Dcotrinal and Practical Divinity, Vol 2, p. 28. Gill paraphases: "I tell you, God has so loved the world of the Gentiles as to give his Son, that whosoever believes in him, be he of what nation soever, shall be saved with an everlasting salvation."