It would be cool to have a women's Masters, but integrating women into the regular Masters shouldn't and wouldn't work. I'm not a huge fan of women playing in men's events not because I don't think they're capable or can be competitive, but because things have to go both ways. If women were allowed to play in men's tournaments, why wouldn't men be allowed to play in women's events?
I don't mean to be taken the wrong way here. I am all for promoting the women's tour to be as big as the men's tour. I am quite a follower of both tours. But I just prefer the men play with the men and the women play with the women. If exceptions are made, that would open the door to more and more exceptions. The line must be drawn somewhere.