By all means bring up your children in the value system you believe in. But try and do it in a way that doesn't damage them - take the elements of guilt and fear and so on that seem to permeate so much of mainstream religious thinking out and that would be a start. That's what I wish my folks had done. That's what I'm doing. Try not to let your god be a 'vengeful' god, if you now what I mean. Vengeful doesn't help.

Where do bad folks go when they die?
They don't go to heaven where the angels fly
They go to a lake of fire and fry
Won't see 'em again till the 4th of July

Meat Puppets (to bring some wonderful American music in).