I'm pretty sure this was discussed here a week or two ago when the study first came out.

The Wired article is actually one of the better ones I've seen on the topic. They make it pretty clear that this is a very preliminary study, that it really applies to pro cyclists (not amateurs), that chamois cream probably isn't a causal agent, that cyclists in the study didn't develop gynecomastia, and that the study did not find elevated levels of estrogen -- only a precursor (estriadol).

Wired is actually debunking a lot of the bad reporting of the study in question.