I think Freud did some amazing things for psychology, but his gender/development related concepts are mostly antiquated, and I still wonder why they even teach them. It's not like the teach Lamarckian evolution in Biology! But yes, when I first read his stuff I found it was mostly warped by his own personal bias'. Jung was much more objective, and building off Freud's work, was able to peer much deeper into the subconscious processes. Unfortunately, Jung was a little too spiritual, and got bogged down in concepts like the global consciousness, but none the less, his stuff was much better.
The idea of wanting a penis though really upset me, I never hated my penis, but didn't really like it either. I couldn't imagine being in a position where I'd want a penis :/