Receiving the Seal of Righteousness (Genesis 17:11; Romans 4:11; LD 25)

Normally when we think about the sign of circumcision being instituted we think of Moses.  We are also quick to think of this sign as being something that is tied to the flesh with a land promise with very little Spiritual significance.  The sign of Baptism on the other hand we may think has great significance in terms of Spiritual blessings.  Is this fair?  Is this what Paul, Moses, and Abraham would have us take away from this sign?