My beliefs on the state of the dead are in line with the traditional understanding. I came out of Catholicism and the whole 'burning forever and ever' thing, so I know the psychological damage that belief in the immortality of the soul can do.
While the Adventist teachings on the state of the dead and the final punishment of the wicked are related in some ways, they are two different issues. Even many non-Adventist Christians who believe in some manner of survival of the soul apart from the body after death also believe in the conditionalist view of hell. These are subjects that I still need to study more, but from what I've learned so far, I still reject the traditional Christian concept of an eternally burning hell where people are tormented forever.
On the other hand, on the subject of death, I'm really skeptical about the Adventist concept of "soul death," as some people call it. (It's not "soul sleep.") There are some texts in the Bible that just don't seem to support the Adventist belief that the soul is the whole person. Here are a couple that are often cited, and I don't think Adventists have explained them adequately:
2CO 5:1 Now we know that if the earthly tent we live in is destroyed, we have a building from God, an eternal house in heaven, not built by human hands. 2 Meanwhile we groan, longing to be clothed with our heavenly dwelling, 3 because when we are clothed, we will not be found naked. 4 For while we are in this tent, we groan and are burdened, because we do not wish to be unclothed but to be clothed with our heavenly dwelling, so that what is mortal may be swallowed up by life. 5 Now it is God who has made us for this very purpose and has given us the Spirit as a deposit, guaranteeing what is to come.
2CO 5:6 Therefore we are always confident and know that as long as we are at home in the body we are away from the Lord. 7 We live by faith, not by sight. 8 We are confident, I say, and would prefer to be away from the body and at home with the Lord. 9 So we make it our goal to please him, whether we are at home in the body or away from it. 10 For we must all appear before the judgment seat of Christ, that each one may receive what is due him for the things done while in the body, whether good or bad.
________________________________________________
Philippians 1:21 For to me, to live is Christ and to die is gain. 22 If I am to go on living in the body, this will mean fruitful labor for me. Yet what shall I choose? I do not know! 23 I am torn between the two: I desire to depart and be with Christ, which is better by far; 24 but it is more necessary for you that I remain in the body. 25 Convinced of this, I know that I will remain, and I will continue with all of you for your progress and joy in the faith, 26 so that through my being with you again your joy in Christ Jesus will overflow on account of me.
There are many others that seem to indicate distinctions between soul, spirit, and body. And this one doesn't seem to support either the traditional Christian view of everlasting hellfire or the traditional Adventist view of the soul and body as inseparable:
Matthew 10:28 Do not be afraid of those who kill the body but cannot kill the soul. Rather, be afraid of the One who can destroy both soul and body in hell.
So I don't know what to think about death yet, but I'm still fairly convinced on the hell question.