Within LDS circles, there is a bit of an infatuation with the Protestant Reformers, specifically the magisterial Reformers, Luther, Calvin, and to a lesser degree, Zwingli. As one who has studied Reformed theology in much depth (e.g. Luther; Calvin; Turretin; Charles Hodge; A.A. Hodge; Torrey, etc), I think I can honestly say that this is unwise. Often, where the Reformers and Rome depart from one another, LDS would agree with Rome, not Geneva or Wittenberg (e.g. absolute predestination; salvific necessity of baptism; free-will in salvation; whether we are eternally secure; whether justification is a legal fiction; sola scriptura, etc.) Ultimately, many LDS tend to “like” the Reformers due to (1) ignorance of their theology (which I label, with no apologies, Satanical) and (2) they rebelled against Rome (which was a right thing to do; what they preached, however, was far from God-ordained truth).
In his recent book, Wrestling the Angel (Oxford, 2014), on p.326 n. 90, Terryl Givens hits the nail on the head:
Contrary to popular Mormon narrative that sees the Reformation as paving the way for the LDS Restoration, Luther, Calvin, and others in fact shaped Reformation theology in a direction much further removed from the teachings of Smith would propound than Catholicism ever was. They did this by emphasising a God “without body, parts, or passions,” human depravity, the Bible as the only source of authority, and salvation by faith alone.
I truly hope Latter-day Saints will re-think their all-too-often positive appraisal of Luther et al., which is often due to gross ignorance of their theologies.