Are We Punished for Our Sins Even After We Accept Christ?

Jesus died for our sins but, as pointed out in Romans 3:10, "no one is righteous." Even after we accept Christ we go right on sinning. Our group discussed the possible repercussions of those continuing sins; are we punished for those sins? Perhaps the closer you get to understanding and believing in Jesus, the more your sins should cost you because you should know better. If nothing else, a Christian feels repentant when he sins. 

I believe we are forgiven for past and future sins but are we disciplined for sinning after our conversion to Christ?  I based this question on Hebrews 12:7-11. Our group felt that Christians, even the best, can experience adversity as the apostle Paul did and perhaps we experience adversity while here on Earth so we appreciate Heaven. As one of our group said, "what would be the point of Heaven if life on Earth was wonderful and perfect." My personal feeling is that we experience adversity to remind us that we are not in control of our destiny; God is and, if we live for eternity, these few relative seconds of pain and despair we experienced in life won't amount to much.