Perhaps I'm missing the point but I believe it's the ultimate realization! I think the point is not that you lose all your memories and and traits and dissolve... Realizing that you are part of something larger doesn't negate you, it extends you to everything. I think the point is that you realize we are all connected, that everything is connected and that you dont end, ever! Nothing does. Even science has proven that energy can not be destroyed, it simply changes form.
Its not about where you end, its about when you realize that you don't. When you realize that everything affects everything, eventually, you have more respect for yourself and others, even other forms of life, even the inanimate. What could unify people and bring more compassion than knowing that we are all connected, that when you hurt someone you are indirectly hurting yourself?
I think its about realizing ultimate, limitless potential and awareness.
Also consider, when the Vedas were conceived life was hard, much harder than any of us can appreciate or probably comprehend. For most people life was suffering. In addition to ultimate awareness, unity, and bliss I'm certain guilt-free freedom from the torment and struggle of life would have been the ultimate goal.
Talk about motivation to live your life to its fullest and do as much good as you possibly can!
It just occurred to me, in my religion I'm offered the reward of heaven and punishment of hell, its interesting to think in terms of there not being a hell, just a do-over as a lower life form if I fail at this particular life.
-Peter Ochabski

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Interesting comparison... I forgot about the "loophole" of the instant repent=eternal salvation. Hinduism seems to make you work for your eternal bliss over lifetimes yet modern western religion seems to offer an almost fast food mentality and instant gratification to the process... On the one hand this makes for an easy sell when trying to convince people to join the religion which makes me suddenly skeptical about his aspect (of my own religion no less) however God is omnipotent so he could in fact wipe your slate clean based on one positive sentiment.

Sometimes I believe people can change sometimes I don't. I trust God to know the difference so I assume the mass murderer who gives a fake repentance will still be punished.

I've found there are precious few shortcuts in life and the things you earn have more meaning so some of the Hindu approaches and concepts have a ring of truth to them. The western religions are full of shocking stories of pious lifelong devotion, hardship, and work by those who want to be closer to God. Do they get a special place is heaven? Is there a series of VIP sections for those who "did better" than others? As you mentioned some repent on their deathbed after a life of evil and misdeeds... do they go to the same heaven as the pious monk who took lifelong vows of poverty, silence, and abstinence in the name of the lord?