“But I’ve yet to see a MORMON say that the Catholic way will get a person to heaven.”
I can say (for myself) that the Catholic way definitely will NOT get a person to hell.
Apostle Richard G. Scott said in general conference in 2001:
Time and time again at funerals, statements are made that the deceased will inherit all blessings of celestial glory when that individual has in no way qualified by obtaining the necessary ordinances and by keeping the required covenants. That wont happen. Such blessings can only be earned by meeting the Lords requirements. His mercy does not overcome the requirements of His law. They must be met.
In Mormonsism, everyone will experience "salvation by grace," or the gift of immortality (resurrection from the dead). According the 10th Prophet Jospeh Fielding Smith:
"Immortality is the gift of God, through Jesus Christ, to all men; by which they come forth in the resurrection to die no more, whether they have obeyed him or rebelled against him. This great gift is theirs; even the wicked receive it through the grace of Jesus Christ, and shall have the privilege of living forever, but they will have to pay the price of their sins in torment with the devil before they are redeemed. "
I think it reasonable to conclude that exaltation or(salvation as we Christians would understand it) is merit-based in Mormonism.