Interesting article on Wesley’s view of salvation and regeneration. Particularly timely given our recent discussion of Spencer W. Kimball’s “The Miracle of Forgiveness”. Given how influenced Mormonism is by Methodism it’s interesting to get to the source.
http://www.scriptoriumdaily.com/2011/09/07/forgiven-and-born-again-two-things-at-once/
LDS & Evangelical Conversations 
I agree with the article.
This dovetails eerily well with my latest post on Wesley, Mormonism, and being born again. The world is a strange place. Sanders gives Wesley a good treatment there.
The Fourth Article of Faith of the LDS states that the first principles of the Gospel are: “first, Faith in the Lord Jesus Christ; second, Repentance; third, Baptism by immersion for the remission of sins; fourth, Laying on of hands for the gift of the Holy Ghost.”
I have slight differences with that: I understand the act of beginning a life controlled by faith in Jesus Christ as an act of repentance in itself—so there’s one step instead of two. THEN the life controlled by faith begins a purification process which is called “repentance” by the LDS. Charismatics rarely if ever use the word “repentance” exactly that way.
Furthermore, water baptism does not remit (forgive, pardon) our sins; faith does. Baptism is just a sign.
And we don’t have to have hands laid on us to receive the gift of the Holy Ghost.
HOWEVER, if someone follows (does) the four Mormon “first principles” listed above, they will be justified (pardoned, forgiven, accepted, remitted) by God and will be born again of the Spirit (regenerated, joined with the Father & Son, transferred into the kingdom of God). God’s Word promises it and God’s Word can never fail.
Here’s the link to JB’s article
http://study-and-faith.blogspot.com/2011/09/church-membership-and-new-birth.html