My Man and I don't peg, but it doesn't work with our personal dynamic.
I think that when it works for a couple, its a great way of yet an other variation on the pleasures that any consensual type of sex may bring!
I wholly support peggers. (Is there a T Shirt?)
We have a variation of a D/s relationship, so I don't penetrate him. We engage in a lot of anal play with me as the receiver and we both LOVE it, but that's what works in our relationship. I really wish I hadn't been so resistant to anal sex for as long as I was. What an amazing thing! But, that is only what works for us. I know many many people who have very different dynamics and I think whatever works for each couple is great, as long as they both are happy...and tolerant of the enjoyed activities of other people, who might be quite different than you are.
How could anything that both partners consent to be "wrong?" It can't be.