Mormonism: Christian, Cult, or ???

In recent years, many members of the Church of Jesus Christ of Latter-day Saints (LDS, or Mormons) have demanded that they be considered Christians. Thus, it can become very difficult for Christian laypeople to grasp the inherent differences unless one is familiar with how the common vocabulary is defined in a Mormon context. So, should Mormonism be considered Christian, a cult, or something else altogether?