Understanding Genetic Engineering

I was intrigued... or maybe just the my ignorance pushed me to dig some little "information" about this thing known as genetic engineering;

Or genetic manipulation;

Or genome sequencing;

Or germinal choice technology.

Well, so much of scientific terms but i think they just mean one thing: we are facing the period wherein men become creator of some "living things".

Much more that pushes me to think and discuss this topic is that the Vatican considers genetic engineering as one of the seven deadly sins of our present times.

Debate seems running on my mind: a sin or not? Good or bad? Benefits vs. dangers, which one outweighs the other?

Shall we live in fear?

I just read (http://www.emagazine.com/view/?632):

"The Nobel Prize-winning chemist Robert F. Curl of Rice University spoke for many of his colleagues in science when he proclaimed that the 20th century was "the century of physics and chemistry. But it is clear that the next century will be the century of biology."

Then this:



And also this:



Now my dear readers, I'm waiting for your comment....

Because I'd like to learn from you, too.