I've never seen this, but I've been staring at the title on the Cast Iron Movie Reviews list for a long time, and I finally decided to look it up. Hopefully someone who's seen this can fill in some stuff, but from the very, very little I've been able to find online about it (so far, basically just a link at Atomic Cinema selling a VHS copy), it sounds like it's pretty interesting.
It looks like it's a 1969 exploitation film about a salesman who finds his wife cheating on him and so he goes a little loopy, and runs to New York where he keeps seeing his wife in every time he sees some sort of sexual goings-on, one of the participants changes into his wife. And apparently there's a scene in which he grows a pair of breasts… which just happen to be his wife's!
This was directed by Larry Crane, and features Gerard Damiano, better known a couple years later as the director of Deep Throat! Wiggy!