I've actually had many a debate with my girlfriend on this issue, and last yaar we had a university module focussing on gender that also gave rise to a number of discussions
Just to get it out the way now, I disagree with the term feminism. It was fine when the fight for equality started out, but I think the problem now is that it has become associated with people who take it to the extreme ('feminazis'), and that it sounds very exclusive. It is very difficult for a man to label himself a feminist, because of all the connotations. I personally like to think of myself as an equalist, in that I think everyone should be afforded the same rights and opportunites. Feminism sounds like it excludes any problems based around race, or age, or any other issue
In terms of feminism going 'too far', I am conflicted about it. In some regards, I think that political correctness has taken over and tried to make things 'equal' but going about it in a very wrong way, such as dictating a certain number of jobs that must be occupied by women (this is called positive discrimination). This isn't down to the work of feminists though. I think that a push for genuine equality, where everyone is judged on their merits, not on their sex is a fantaastic aim, and I am fully behind it
The problems arise when people take things to extremes, and demnd to be afforded a certain opportunity or job because they are a woman. This is why people end up with stereotypes of feminists, because these extremes are the most memorable, and so form the greatest impressions. As a lot of people have said, when people make it impossible to know whether or not you should hold a door for them, things get ridiculous (Personally, I tend to hold the door for anyone, it's common politeness. It is also polite to thank people when they do this, a fact that seems to be lost on a lot of people who live in my city).
I think that it is also important to have a look at how the rise of equality is affecting men. Feminists have often complained about objectification, but the objectification of men has been steadily on the rise since the 80s. Men are increasingly having more plastic surgery, and using more and more beauty products. I would say that there is just as much pressure now on men to look good as there is for women. Granted, this is far more equal, but is it a good thing? I personally think no
I would heartily reccommend this article: http://www.guardian.co.uk/lifeandstyle/2008/aug/03/gender.healthandwellbeing
I'll tell you that the title of it is 'Depressed, repressed, objectified; are men the new women?' and let you decide whether or not you agree