As a third year medical student, my favorite rotation was ob/gyn, especially labor and delivery. Like other male students, I was also tossed out of exams. My gut reaction to this was to feel hurt, then I realized that the patient simply preferred the female resident or attending to do the exam alone without me, the "strange man" watching - it really had nothing to do with me personally.
I have heard many different arguments for and against male ob/gyns. The argument against them is that males don't have personal experience with the female anatomy and thus will never be as gentle/understanding/empathetic as a female ob/gyn. The argument for them is that males tend to not downplay "routine" and "common" complaints such as painful menstruation and can sometimes be gentler with their physical exam.
However, the consensus I have received in talking with female colleagues, patients, friends and family members is that a female ob/gyn will always be preferred with all other things being equal.
I loved obstetrics because those patients, for the most part, are the only ones who are HAPPY to come to the hospital. Having a baby is an exciting life experience and it is awesome to be a part of it. However, the aforementioned gender issues made me think twice. What I did was look to the other side of the curtain - anesthesia. A woman may be happy to see her ob/gyn as she is going into labor, but she is even happier to see the anesthesiologist who is about to administer that magical epidural.
Just my two cents
Johns Hopkins Hospital Anesthesiology Class of 2008