Grace and peace be multiplied unto you through the knowledge of God, and of Jesus our Lord,I love the way Peter begins with Christ and God, then raises their call to us to obtain glory and virtue and godliness through the power of Christ, the power that enables us to become more like God and partake of the divine nature. But the call to follow them requires diligence and patience, with progression step by step until our calling and election is sure - for, after all, it is possible for believers in Christ to fall and lose their salvation.
 According as his divine power hath given unto us all things that pertain unto life and godliness, through the knowledge of him that hath called us to glory and virtue:
 Whereby are given unto us exceeding great and precious promises: that by these ye might be partakers of the divine nature, having escaped the corruption that is in the world through lust.
 And beside this, giving all diligence, add to your faith virtue; and to virtue knowledge;
 And to knowledge temperance; and to temperance patience; and to patience godliness;
 And to godliness brotherly kindness; and to brotherly kindness charity.
 For if these things be in you, and abound, they make you that ye shall neither be barren nor unfruitful in the knowledge of our Lord Jesus Christ.
 But he that lacketh these things is blind, and cannot see afar off, and hath forgotten that he was purged from his old sins.
 Wherefore the rather, brethren, give diligence to make your calling and election sure: for if ye do these things, ye shall never fall.
I'm not sure how this passage could fit into a sermon from those who condemn us a non-Christian cultists for believing in the type of things Peter teaches here. Other than an occasional reference to the divine nature, I don't think I've heard this passage used much at all - but my sampling of non-LDS sermons is small. In some cases, it is cited largely to refute its use as a "prooftext" in favor of LDS-like doctrines. One example is an article by Zane Hodges in the Journal of the Grace Evangelical Society. Here is one interesting excerpt:
A careful consideration of the context of these remarks shows that they are not supporting the Reformed Doctrine of the Perseverance of the Saints. Indeed, they actually support the opposite conclusion, that believers in Christ are secure forever, whether they add Christian character qualities to their faith or not. What is at stake, here, as we shall see, is not kingdom entrance, but abundant kingdom entrance.I'm curious about other interesting uses of this passage, as well as many of the rather plain teachings of Peter in general. I really enjoy Peter's writings. Wish we had more!