I think it's all hogwash, but if I were inclined to believe in a trough of hogwash that would be the one for me. Constant learning through cycles of rebirth sounds way more exciting than either heaven/hell: in hell you just roast for eternity which hurts, and in heaven you fuse with god and become omniscient, which when you think about it is ridiculously boring. Plus with reincarnation you could end up as some crazy-cool alien and all that great stuff.