Something that I hear often is that Priesthood is the equivalent of Motherhood. I think that a concept like that diminishes the role of father. A father should be just as active in the raising of children as the mother. Just as interested. Just as involved.
I was reading an article over here at Empowering LDS Women and enjoyed this chart:
I would say that the only thing the Priesthood can be equated to is Priestess-hood (my online dictionary doesn't even recognize that as a word *sigh*). It has been said to me that Priesthood is the most important duty of a man and that motherhood is the most important duty of a woman, but I am not the only person who disagrees with this. President Ezra Taft Benson said, "We bring children into the world to become kings and queens, priests and priestesses for our Lord."* That would imply that we (women) come here first and foremost to become priestesses. I can live with that. I can even live with the fact that our (women's) status of Priestess is not going to be realized in this lifetime, even though I don't understand why.
I was reading an article over here at Empowering LDS Women and enjoyed this chart:
The blogger then goes on to equate a woman's ability to give physical birth to a man's ability to give spiritual birth via the saving ordinances of the Priesthood. However, that doesn't add up for me either. Giving birth doesn't require a worthiness check. It doesn't require an entire youth program to advance through milestones of separate "job well done"s like receiving the Aaronic Priesthood and the Melchizedek Priesthood. Giving birth doesn't even require being a mother. Likewise, being a mother doesn't require giving birth. An adoptive mother is as much a mother as any other (Say that five time fast!). So. That explanation is a dead end.

What does actually bother me is the endless explanations of why it doesn't speak poorly of me to not have the Priesthood, pretending it's equal to some other aspect of my womanly life. I am not two- I don't need a made up explanation. What bothers me more is the perceived inequity from small children when being explained that girls and women will never receive the priesthood.
And it's not just that, the female youth are not nearly as celebrated or empowered as the male youth. The Young Men go to all sorts of Courts of Honor, Eagle Scout Awards, Priesthood progressions, etc. The Young Women do Personal Progress, but even that receives much less recognition than an Eagle Scout award.
At one ward I attended, the Young Women were not allowed to feed the homeless because it was in a bad part of town and dangerous whereas the Young Men went once a month. This in no way teaches equitable empowerment. Quite the contrary. It teaches them they are not as capable. Fear shouldn't win.
I really believe if we started boys and girls off with the same amount of support, if we celebrated both sexes (and genders, but that's another issue) equally, if we empowered Young Women and Young Men, the whole issue of woman not having the Priesthood in this lifetime would be a non-issue.
*From the talk Because I Live, Ye Shall Live Also