JOEL - Your question is clear and generally speaking the answer is pretty clear as well, depending on how far you go in trying to understand it. Being able to comprehend the eternal nature of the whole thing is what is difficult. According to Joseph Smith, "God himself was once as we are now, and is an exalted man, and sits enthroned in yonder heavens!" God has experienced everything we experience here on earth before He became exhalted. In our path of eternal progression we are simply following in His footsteps in trying to become like Him. The LDS Church teaches that all resurrected and perfected or exhalted mortals become gods (Gen. 3:22; Matt. 5:48). They will dwell again with God the Father and will have the power of procreating spiritual offspring. Joseph Smith also wrote, "Every man who reigns in celestial glory is a God to his dominions" (TPJS, p. 374). This does not mean that any person could replace God as the Supreme Being in our universe; but it does mean that through God's plan and with his help, all men and women have the capacity to participate in God's eternal work in a different universe. "All that [the] Father hath" shall be given to them (D&C 84:37-38). Men and women who are sealed together, who honor their covenants with each other and the Lord, will in the Resurrection inherit exaltation and eternal life, consisting of an eternal union together and an eternal family; including eternal increase, spirit children, and the creation and possession of worlds and universes. The hard thing to understand is that this has been going on forever in the past and will continue to go on forever into the future. The fact that God the Father once experienced an earth life like we do of course implies that there is a God the Father who is the Father of His spirit, and so on and so on. However, we should mostly concern ourselves with the God of our spirits and not worry about or try to understand what's going on in other universes in the past or future. Our God will always have dominion over us in our universe, and because of this, as far as we are concerned, there is no other God but the one we worship now.
I believe the leaders of the church understand this a lot better than the rest of us do. However, they don't talk about it much because they realize that the most important thing for us right now is that we try to live in the present and do those basic things that we are supposed to be doing now. What we are talking about here goes so far in the future that it's difficult to comprehend until we get a little further along. We first need to get through this life, die, become resurected, experience a 1000 year milenium, be judged, and assigned a kingdom of glory; and then sometime long after that we might finally be exalted and become as God..