The doctrine of mankind being children of God is a topic that has become quite important to me. And I have become a believer in a literal spirit birth to Heavenly Parents. I have posted on this topic from various angles in the past.
I made a brief early attempt here.
I wrote a post based on key New Testament scriptures here.
I took a speculative leap based on statements by Widtsoe and Brigham Young here.
I addressed the topic from the idea of Christ as an Elder Brother here.
And I applied a First Presidency message aimed at clearing up any Adam-God confusion to this topic here.
I would now like to address this from our beliefs in what exaltation is like.
One of the unique aspects of Mormonism is its belief in something more than basic salvation. Members of the church have great joy in the gift of grace we receive in the resurrection. We have great hope in receiving a remission of our sins through the atonement of Jesus Christ, and the ordinances of the His gospel. But we also believe that in the Fathers house are many mansions, which has been roughly described in revelation as degrees of glory.
The highest of these degrees of glory is referred to as the Celestial Kingdom. And even this kingdom has levels within it. The highest of these levels is often referred to as Eternal Life or Exaltation, and is the greatest of all the gifts of God.
One of the requirements for this gift is eternal marriage, or being sealed in the temple. This type of marriage does not end at death, but continues throughout eternity. Among the promises made by God to couples who keep the covenants associated with this type of marriage is given in D&C 132:19 which reads in part:
...and they shall pass by the angels, and the gods, which are set there, to their exaltation and glory in all things, as hath been sealed upon their heads, which glory shall be a fulness and a continuation of the seeds forever and ever.
Further we have in the Proclamation 'Gender is an essential characteristic of individual premortal, mortal, and eternal identity and purpose.'
And it is ideas like those above which lead many Mormons like myself to have hope and belief in an exaltation that includes a continuation of a marital relationship, and the bringing forth of spirit children - through some unknown process. And thus the eternal circle of life continues.
Thus, what we believe about our exaltation and eternal life has a potential and profound impact on our preexistent life. And vice-versa.