Reggaeton is a matter of controversy for women all over Latin America.
Usually its lyrics are about how women are a bunch of whores that just want to get laid (by men is understood), but from time to time, you find some reggaeton that maybe is not that obvious...
For example : "Atrevete-te" from Calle 13 a group from Puerto Rico
http://www.youtube.com/watch?v=JLHuDDdo-90The lyrics say something like :
Atrevete-te-te-te (Come on, dare !)
salte del closet (come out of the closet)
destapate (take your clothes off)
sacate el esmalte (take the polish off)
dejarte de taparte (stop hiding)
que nadie va a retratarte (no one is gonna take a pic)
levantate ponte hyper (get up, get hyper)
prendete (get on fire)
sacale chispas al estarter (make the starter sparkle)
prendete en fuego (get on fire on fire

)
como un arte (i'm not sure of this line)
sacudete el cinturon como si fuera un whiper (shake the belt like it was a whiper)
que tu eres callejera streetfighter ('coz you are a street girl streetfighter)
so... it's ambiguous no ?
As for me, I say, if it's good dancing music, the kind that makes you just wanna get on the dance floor and shake your ass, I don't give a damn about the lyrics.
For example :
Gasolina from Daddy Yankee, Puerto Rico too
http://www.youtube.com/watch?v=nCUO_ApQccsThe songs basically says "A ella le gusta la Gasolina, Dame mas Gasolina, Como le encanta la Gasolina, Dame mas Gasolina" (She likes Fuel, give me more Fuel, how she loves Fuel, give more Fuel), and of course, fuel is...

I just LOOOOVE that song to dance !
As for my favorite latin artists :
Juan Luis Guerra from Republica Dominicana
El costo de la vida
http://www.youtube.com/watch?v=_zLpacr1DlULa bilirrubina
http://www.youtube.com/watch?v=cosT3X-owzkLa cosquillita
http://www.youtube.com/watch?v=PX7IkZ5IMqgOjala que llueva café
http://www.youtube.com/watch?v=uJimpth-yNsEl Niagara en bicicleta
http://www.youtube.com/watch?v=b4i7tbqKWp4Bachata rosa
http://www.youtube.com/watch?v=r9UIl8I6WBQetc...
Joe Arroyofrom Colombia
La Rebelion
http://www.youtube.com/watch?v=Nhtn3HROvgAEchau pa'lante
http://www.youtube.com/watch?v=pz77RC8qDokShakira of course
from Colombia
La Tortura (awesome video !!! this girls moves her boobs, her ass, her every particule !)
http://www.youtube.com/watch?v=piFr31cWpEoHips don't Lie
http://www.youtube.com/watch?v=htJuGVrhKWcOjos Asi
http://www.youtube.com/watch?v=bqeuSWTgtQoCiega Sordomuda
http://www.youtube.com/watch?v=KOeaxkMbGO8Beautiful Liar (feat. Beyonce or the other way around)
http://www.youtube.com/watch?v=RtIHBRsy1lIRubén Bladesfrom Panama
These are songs to hear and read. Look up the lyrics if you want to know what they mean.
Pedro Navaja
http://www.youtube.com/watch?v=qbi2HunKux8El Padre Antonio y su monaguillo Andrés
http://www.youtube.com/watch?v=TvL_CQFuZdgDecisiones
http://www.youtube.com/watch?v=HzCPT8wQMM0Manafrom Mexico
El Muelle de San Blas
http://www.youtube.com/watch?v=R4TGbW0_6mwRayando el Sol
http://www.youtube.com/watch?v=HLUcqW2Z3_EEnjoy !