I think it's just downright dangerous to have this ability.. Lets look at a few things..
Over population.. The planet is already over run with humans as it is, why create more people than we need to?
Genetic engieneering, bad bad bad.. Ever see Gattica? (I think that's the one).. where people are genetically designed by their parents? tailored to a certian 'life'?.. Someone mentioned 'making ppl to clean sh**'.. hmm, you would have to make someone pretty dumb to not dislike that, but do we really need more dumb people in the world? I think not.. Not to mention the moral implications of intentionally limiting some's life ability //content.invisioncic.com/y282845/emoticons/nono.gif.eca61d170185779e0921b0faa9704973.gif .. And, the opposite side.. physical/mental giants.. The government would want super soldiers more than normal people.. remove fear, increase strength, sight, hearing, etc.. Hmm.. no more jobs for a good part of society that isn't well suited for more than military

(I was in the nav for 3 years, so I'm not nocking ALL military, just most //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif ).. So, now, a lot of people are beautiful, strong, intelligent .. but the rest of us are still sex-soup //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif .. might not be perfect looking, super smart, un-natural talents in a certian area that makes us 'well suited' for a certian job.. You think there is discrimination now, wait until any non-gen is competing for a job with a gen //content.invisioncic.com/y282845/emoticons/furious.gif.fc81ca146dbff91fede3ed290dbc4f4c.gif ...
Then, you have the rich guys.. thinking they will live forever if you clone them.. but it doesn't work that way.. part of who you are is what you have been through.. So, just having the same genes isn't gonna make you the same person, not by a long shot..
Sex has been working for billions of years, leave it alone //content.invisioncic.com/y282845/emoticons/nono.gif.eca61d170185779e0921b0faa9704973.gif besides, it a LOT more fun //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif