1. That teaching includes Joseph Smith's little-known statement that all Gods were first men. * The basic question then becomes: Who created the world the first God lived in as a man? If we say that that world evolved... we are abandoning the Bible's statements that ALL that exists (heaven and earth, visible and invisible -- doesn't that cover everything including matter?) was made by God and Christ, and NOTHING was made apart from them, and we turn Genesis 1-2 into a fairy tale. (Gen. 1:1, John 1:1-3, Col. 1:17)
The question becomes Who created the earth that the first God lived in before He became a God? Somewhere along the line there HAD to be a creator before there was a creation!
2. Another illogical part of the teaching is the suggestion that the first God was exalted to Godhood by a law. Can a "law" monitor the life of that first man destined to be god and judge it and then exert the creative power at the right time to exalt that person to godhood? Seems to me that we are not talking about a simple law, but rather a powerful, moral, knowing being. Who would that have been, with such power, if not a "God"? So was the first "God" elevated to power by a law or another god? Illogical and impossible. Somewhere along the line there has to be the very FIRST creator-God who was always God.
3. Another question: how can we say that some supreme power exists, whose name we do not know, who elevates men to godhood, without detracting from all the superlatives attributed to the God of the Bible: highest, ONLY God, all-powerful, above all, Lord of Lords, King of Kings, creator of all powers and dominions... etc. Isaiah says no other god such as this exists -- see Isa. 44:6,8, 24 45:12, 46:8. The idea of some other power demotes the God of the Bible, and THAT could be considered blasphemy -- it makes Him a liar. An all-wise God would not mislead us like that on such an important issue as His character and who the "big boss" really is...and He said point blank that He KNOWS OF NO OTHER such god. (Isaiah 44:8) God invented language -- He would not accidentally misuse it in such a way! He would have HAD to know about the God he was to obey to become a god!
Ultimately we are back to the fact that there can be no creation (of a world or an exalted god) without there first being a Creator. And that is just what the Bible says. "In the beginning God created...." (Genesis 1:1)
4. Will we ever become gods in some sense? The book of Revelation (in chapters 21-22) portrays God dwelling with man and our being His people and He, our God, (21:3) AND IN 22:3, it speaks of servants, not equals. Christ's church is also portrayed as His bride, and Biblically, the wife is under the husband in the chain of command.
5. Have I misunderstood the meaning of Doctrine and Covenants 76:95? It says that humans CAN become equal in power and dominion to God. I actually see this as a blaspehmous statement. The creator is always above the created being, and God has NEVER said He will go 50-50 in the sense of allowing humans to have dominion over HIM in the way He has dominion over us. We may share some of the power; we will NEVER EVER have equal power. God has given Christ the name above every name, and at that name EVERY knee will bow (Phil. 2:9-10)! Ephesians 1:21 likewise indicates Jesus has all MIGHT, POWER and DOMINION in this world AND the world to come.
6. Another issue: LDS see God as a resurrected being, then elevated to Godhood. The idea that the God I worship who says He is unchanging, eternal and perfect was ever a man who lived, and died on some earth is repugnant to me BECAUSE the only reason people die is because they sin according to the Bible. MY GOD NEVER EVER SINNED.
7. This is just an observation. For me the ULTIMATE JOY I can look forward to is described in Psalm 16:11 where it says in God's PRESENCE is fullness of joy. King David (Psalm 23) said he was going to "dwell in the house of the Lord forever." But for the LDS person the "top" exaltation would take them into the realm of their own planet and as I understand it away from God to be their own god. In the Bible the ultimate punishment is to be separated from God. It just all seems backwards to me.
A related article that discusses the doctrine of God is this one: Are LDS Christians?
(Our different view of God is one major thing that separates us.)
*Times and Seasons, Vol. 5, pp. 613-614