What did Jefferson mean by "all men are created equal"?

In a radio broadcast in October of 1939, Winston Churchill stated "It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key." He was speaking about Russia, but the quote applies, in my opinion, to Jefferson. Thomas Jefferson was paradoxical, hypocritical, and at times even a liar. Joseph Ellis rightly dubbed him The American Sphinx. Yet when he wrote that "all men are created equal" he meant it, just not in the way most modern readers would interpret it. Jefferson meant equal in the eyes of God. Men were equal in a moral sense if not in rational ability. In Gordon S Wood's The American Revolution: A History, he wrote "Jefferson’s affirmation in the Declaration of Independence that all men are created equal was, as he later recalled, simply “the common sense” of the age. By the latter part of the eighteenth century, to be enlightened was to believe in the natural equality of all men. Even those as aristocratic as William Byrd and Governor Francis Fauquier of Virginia conceded that all men, even men of different nations and races, were born equal...". Jefferson doubted the natural intelligence of blacks, but none the less he did believe that they were equal in a moral sense. What do you think he meant? And how has the interpretation of that sentence changed over time?