There will be a time when the accounts will all be settled. Everything will become everlasting and people will either inherit eternal lives and move forward, or they will return to be destroyed both temporally and spiritually again. Joseph Smith commented in the King Follett Discourse about the process of gaining exaltation. He said, "you must begin with the first, and go on until you learn all the principles of exaltation. But it will be a great while after you have passed through the veil before you will have learned them. It is not all to be comprehended in this world; it will be a great work to learn our salvation and exaltation even beyond the grave."
Death and hell are the devil's domain. He's the god of that world, and since we have death and suffering here, he calls himself the god of this world. Those who come here are subject to his buffeting, and his will. They are tormented, tempted, troubled, and then they die. While captive here, they endure the insults of the flesh, and the difficulties of trying to find their way back to God.
Those who find Him, however, are able to receive "peace and life eternal" through a higher way. The devil is bound for them, and they are able to be "added upon" by the experiences and difficulties here.
All of this is called a "great and marvelous work" to occur "among the children of men." Note it isn't the "remnant" or the "gentiles" but "the children of men." Why so? Is everyone invited? Why, if everyone is invited, will it largely only affect the "remnant," and the "gentiles," and the "scattered Israel," and "Jews?" What about the "heathen," since they are also "the children of men?" Don't they also have part in the first resurrection? (D&C 45: 54.) Will even some of them be included among the "children of men" who behold this "great and marvelous work?"
Why is it "everlasting" whether it is for "peace and eternal life" or "captivity and destruction?" Isn't "Everlasting" another of God's names just like "Eternal" and "Endless?" (D&C 19: 10-12.) If so, then what does the "everlasting peace and eternal life," and "everlasting captivity and destruction" really involve? [You really need to read that paper I've been emailing out if you haven't read it already.]
Why does God want us to respond to His message and get out of this Telestial Kingdom into another, higher kingdom? Why does He want us to become like Him? How is this experience able to make us more like Him?
If one is involved in the "continuation of the lives" (D&C 132: 22) is that distant and second-hand? Or does God (or the Gods) get involved directly with His/Their children? (Abraham 3: 24-25.)
What causes "hardness of their hearts?" What causes "blindness of their eyes?" Why are those whose hearts are hard unable to receive Christ? Why are those who are blind unwilling to see Him?
This cycle of inviting people to come to the Lamb of God has been going on for some time now. When mankind generally rejected Him after the time of Noah, there was a chosen people who were given a sacred tradition. Ultimately they got proud, failed to recognize Him when He came, rejected His message, and killed Him. Gentiles converted and became the inheritors of His teachings. Then the gentiles began to persecute the previously chosen people for generations. In this verse the gentiles are remembered, sacred materials are entrusted to them with an obligation to spread that sacred material back to the earlier chosen people. However, for the gentiles to be able to accomplish this they need to hold onto the sacred materials and teachings. You simply can't spread abroad what you've failed to retain.
If the gentiles let the sacred materials and teachings fall into disuse, forfeit their priesthood by draining it of any power, and have nothing to offer the previously chosen people, then the gentiles will be cast off, trodden under foot and destroyed, as we have earlier seen.
This verse reminds us what is at stake: Eternity. Or at least God's judgment. It'll be embarrassing to return to Him unimproved and un-added upon. Particularly when His hand was stretched out to us all the day long. Gentiles who do as they are asked are given all the blessings of the chosen people. Those who do not are rejected and destroyed.
As a friend and I discussed last week, Hindu's advise us to get off the wheel and return to God. They may be onto something with that thought. One eternal round, indeed.....