all good points, here's how I initially reacted:
Rolled my eyes
Said out loud: "really??" Then I thought, oh get over it. There are half naked women on all sorts of advertising and bumper stickers and I don't even notice. I'm all for more depictions of scantily clad men, myself. "Don't be a prude". But I'm a lady in a male-dominated industry, I have to think what my customers may think.

So I held up the box to all the staff using my hand to cover the image, saying "would you buy this for yourself/wife/daughter/girlfriend" and they all said yes. Then when I uncovered the image every one of them changed their minds.

Last minute news: dropped a note to my local Rep, who responded to me in less than half an hour. He said that while that was printed on a first production run, the image has since been removed from all further packaging. So +1 for that company in my book.

Thanks for all the replies ladies!

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Anne Barnes
ABBikefit, Ltd
FIST/SICI/FIST DOWN DEEP
X/Y Coordinator
abbikefit@gmail.com