You said: "No one, can live up to Mormon teaching, and many people end up in despair." Actually no one has been able to live up to the Bible teachings except Jesus Christ. God has always expected a higher standard from His people. He does expect us to keep His commandments. He also expects us to do the will of God the Father. Reading the Bible has not changed my opinion of The Church Of Jesus Christ Of Latter Day Saints. Why would it? We believe the Bible to be the word of God.
What Mormons believe is usually what they grew up being taught.
This is what the LDS teach about the Bible:
24 And the angel of the Lord said unto me: Thou hast beheld that the book proceeded forth from the mouth of a Jew; and when it proceeded forth from the mouth of a Jew it contained the fulness of the gospel of the Lord, of whom the twelve apostles bear record; and they bear record according to the truth which is in the Lamb of God.
25 Wherefore, these things go forth from the Jews in purity unto the Gentiles, according to the truth which is in God.
26 And after they go forth by the hand of the twelve apostles of the Lamb, from the Jews unto the Gentiles, thou seest the formation of that great and abominable church, which is most abominable above all other churches; for behold, they have taken away from the gospel of the Lamb many parts which are plain and most precious; and also many covenants of the Lord have they taken away.
27 And all this have they done that they might pervert the right ways of the Lord, that they might blind the eyes and harden the hearts of the children of men.
28 Wherefore, thou seest that after the book hath gone forth through the hands of the great and abominable church, that there are many plain and precious things taken away from the book, which is the book of the Lamb of God.
29 And after these plain and precious things were taken away it goeth forth unto all the nations of the Gentiles; and after it goeth forth unto all the nations of the Gentiles, yea, even across the many waters which thou hast seen with the Gentiles which have gone forth out of captivity, thou seest—because of the many plain and precious things which have been taken out of the book, which were plain unto the understanding of the children of men, according to the plainness which is in the Lamb of God—because of these things which are taken away out of the gospel of the Lamb, an exceedingly great many do stumble, yea, insomuch that Satan hath great power over them.
Book of Mormon, 1 Nephi 13: 24-29
6 And it came to pass that I beheld this great and abominable church; and I saw the devil that he was the founder of it.
7 And I also saw gold, and silver, and silks, and scarlets, and fine-twined linen, and all manner of precious clothing; and I saw many harlots.
8 And the angel spake unto me, saying: Behold the gold, and the silver, and the silks, and the scarlets, and the fine-twined linen, and the precious clothing, and the harlots, are the desires of this great and abominable church.
Book of Mormon, 1 Nephi 13: 6-8
The harlot of the Whole Earth:
16 Wherefore, he that fighteth against Zion, both Jew and Gentile, both bond and free, both male and female, shall perish; for they are they who are the harlot of all the earth; for they who are not for me are against me, saith our God.
2 Nephi 10:16
What is Zion?
D&C 97:21. “Verily, . . . for This Is Zion—the Pure in Heart”
Zion is not only a location but a condition as well. The Lord declares that a person worthy of Zion is one who is “pure in heart” (D&C 97:21). Hyrum Smith described Zion as “the honest and pure in heart that will harken to the everlasting covenant” (in History of the Church, 6:320).
Doctrine and Covenants Student Manual, p.230
Behold there are save TWO CHURCHES only, the one is the CHURCH OF THE LAMB OF GOD, and the other is the CHURCH OF THE DEVIL, wherefore, whoso belongeth not to the church of the Lamb of God belongeth to that great church, which is the mother of abominations; and she is the harlot of all the earth.
Book of Mormon, 1 Nephi 14:10
"After the Church of Jesus Christ of Latter-day Saints was organized, there were only two churches upon the earth. They were known respectively as the Church of the Lamb of God and Babylon. The various organizations which are called churches throughout Christendom, though differing in their creeds and organizations, have one common origin. They all belong to Babylon."
- Apostle George Q. Cannon(1827 -1901), Gospel Truth, p. 324
. . . I bear witness to you today that we have the only true, living church upon the face of the earth that the Lord recognizes that has divine authority to administer the saving ordinances of the gospel.
LeGrand Richards, “One Lord, One Faith, One Baptism,” Ensign, May 1975, p. 95
"If persons separate themselves from the Lord’s church, they thereby separate themselves from his means of salvation, for salvation is through the Church."
Mark E. Petersen, Salvation Comes through the Church, General Conference, April 1973
Salvation Comes through the Church - Mark E. Petersen
Doctrine and Covenants 68
2 And, behold, and lo, this is an ensample unto all those who were ordained unto this priesthood, whose mission is appointed unto them to go forth—
3 And this is the ensample unto them, that they shall speak as they are moved upon by the Holy Ghost.
4 And whatsoever they shall speak when moved upon by the Holy Ghost shall be scripture, shall be the will of the Lord, shall be the mind of the Lord, shall be the word of the Lord, shall be the voice of the Lord, and the power of God unto salvation.
Doctrine and Covenants 68
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