Lynda Boothroyd came out with a study that finds that women think more feminine-featured men make better dads: http://www.msnbc.msn.com/id/20167786/.
While this is nothing new, the conclusion that she makes, that women don't like macho men at all, is a bit overstated. She even goes on to say that we shouldn't look at masculinity as an indicator of genetic fitness. The article doesn't state whether a certain question was asked of the study participants, but it is an important question: Just because these people in the study think the more feminine-looking man would make a better father, which type of man are they more likely to want to have sex with? One is not exclusive to the other. It is entirely likely that women would want to mate with a masculine man but have a feminine man help raise the kid, if they could get away with it. There are cultures where women mate with their husbands but their brothers help raise the kids, so these women don't need to worry about whether their husband will be a good dad, they just have to make sure he's got strong swimmers (so to speak), and a powerful position in society.
I think that she needed to go deeper than she did and not frame her conclusions with such a Western frame of mind.