Hello again, Tannhaeuser!
Sorry for the much delayed reply to your posts!
As an aside; I sent you a private message through this site which , I'm guessing, you haven't seen. I wasn't aware of a lot of the features of this forum (and and am still learning). I discovered the message feature at the top of the page and am just starting to use it (user control panel).
Now, to dive in. So much to discuss! My apologies as I may miss some points.
In the interest of taking advantage of the time I have with my wife out of the house, I'll just address them as I think of them.
I googled "Desire to watch wife with another man" and got some enlightening results (including a link to this discussion!). I don't know if we're allowed to mention specific publications but a popular Psychology magazine had a couple of articles on this very subject. Apparently this desire is not all that uncommon. Among the list of the most reported reasons men gave for this desire were a few that seemed to correspond to my reasons (both conscious and subconscious).
In no particular order:
I'd like to see my wife as highly desirable to other men (and know she's
mine).
As I mentioned in my post that started this thread, I would be experiencing her arousal and pleasure vicariously while watching her, hopefully, being brought to multiple orgasms.
I have pretty significant erectile dysfunction so I would like to see her being made love to in the way I wish I could do it (and believe me, I wish I could do it in ways that would require language that may be deemed inappropriate)!
My wife has absolutely
No libido which I attribute to stress, anxiety and all the meds she's taking to control it. I feel if she could experience some proper sexual intercourse with a solid erect penis (at least equal to or exceeding the the awesome one she was used to with me

) it would reignite her sexual desire.
There is also the voyeurism aspect. I find watching people having sex is
very erotic (although I no longer take advantage of the unlimited opportunity to do so on the internet

)
Also, there is the same sex attraction that I discussed in the "Bi-curious over 50" thread. Coupled with my submissive sexual inclinations (plausible deniability?) I may be drifting into the OCD area of this desire!
There may have been more reasons but that's more than enough get me all worked up!
Now, here's the rub (play on words intended

); as I said, my wife has no real desire to be intimate with me and
I don't masturbate! This leaves me incredibly frustrated! In addition to that, all these reasons are pretty much based on the idea the real life experience would be really close to what I imagine they would be, which is highly unlikely.
RE: the dangers of cultivating this desire and the objectification of our wives...
I know there are couples that embrace this "Hot Wife" lifestyle. Personally, I don't believe this works out for them in the long run but I have no evidence one way or the other and I'm certainly not here to judge. I know it wouldn't work out for me.
As far as a shared fantasy with ones wife; that seems like a more promising scenario but my gut feeling after giving this a LOT of thought is that it's ultimately dehumanizing. It strips the love out of love making and and replaces it with pleasure seeking. (This could be a whole other topic in itself)
This kind of leads me to spiritual beliefs on sexuality; again, a whole other topic in itself!
I'm no Theologian and the teachings of the Catholic church, of which I am a member, are deep and rich. Some of the relevant core beliefs are (bear with me in my gross over simplification; my armchair theology

) that there is a creator of the universe (well,
everything really), there is an intelligent design, there is order in His creation, nothing is random. When order is disrupted there is trouble. There is good and there is evil and when things are in a state of disorder it's fertile ground for evil to flourish. Our amazing and beautiful sexuality was created to encourage us to be fruitful and multiply and to create a physical and spiritual bond of love with our spouse. (there are other kinds of love but erotic love is what I'm referring to). I believe this why the entire realm of sexuality is such a minefield. I don't want to get too deep into this but suffice it to say that if you allow yourself to get sucked (another play on words

) in to a world of "sex purely for your own gratification", your wading into a world of "disorder". And, just to be clear, I'm not trying to push my beliefs on anyone. I'm just trying to let you know where I'm coming from. I stand by my long held mantra, "Judge not, lest ye be judged"!
To sum up today's rather lengthy post:
Desiring to watch your wife with another man is not that uncommon.
There are numerous reasons why that's the case.
I share a number of those reasons.
When I started this thread I was confused by my strong desire but being able to discuss it and "think out loud" about it has helped me to make some sense of it.
I have now relegated it to the category of "Fantasy" and not an actual desire.
I welcome anyone who has been drawn to this topic to please jump in and share your thoughts!