Well,I find the whole idea of polygamy as lustful.There can be only one soul mate for a person.How can a man be just and equal to 4 other people in his life?The idea is hypocrite.The institution of marriage is reduced to institution of management.Perhaps when concieved,the practice of keeping many wives,concubines and slaves was widely prevelant in Arabs.Restricting that to 4 was a good start but it should be stopped now.
In such system,Women are reduced to the objects of desire and I would rate men who are propaganist of polygamy as MCP(male chauvinist pigs.

P.S.The practice is till mostly in arabs and is definately not widely parcticed by other muslims in other parts of the world.