Hmm. I guess many women would be embarassed. Which is funny, because no one blinks an eye when guys buy muscle magazines, and at least 50% of the reason we do that is to look at the idealized male body, when it comes right down to it. "Dude, look at that guy, he's freakishly huge!"
I think the difference is that we view view physical beauty in men much as we view a sport. It's like you know you're not proffesionally good at the sport, but you can still be a fan (and maybe play as an amateur). Come to think of it, we generally think of female pics the same way. We respect the major players (models) and sometimes are fans of a particular model. Yeah, if someone asked us, we'd say "yeah i'd sleep with her", but come on, we're men. We'd sleep with alot of women, and they don't need to be on the cover of FHM. 😉 That's not the reason we like to look.