Women are certainly every bit as capable of learning and living by masonic principals as men -- but as others have said, many already do, in the OES.
Since female petitioners must be related to a master mason in good standing, however, the opportunity for ladies to join is a bit more restrictive than the blue lodge is for us men. OTOH, their petitions are much shorter and less detailed than ours. Perhaps a female branch of masonry itself wouldn't be a bad thing, but it would open up a whole new can of worms. For example:
* Would we fraternallly recognize them, and they, us? SHOULD we? If so, what about co-masons, who admit both genders, but are generally considered clandestine?
* Might very well cause a major decline in membership of the OES -- perhaps even a fatal one.
* Would they, like the Star ladies, be sisters -- or like us, brothers?
* Could we/should we go beyond merely recognizing them -- and consider them in amity? Doing such a thing would effectively make blue lodges co-ed anyway, wouldn't it?
Personally, I'm not for much of anything that changes the current definition of what makes a Texas blue lodge regular -- not shortening the work, nor admitting women. Our tradition is what defines us, and sets us apart from all the other fraternal/public groups out there. We don't ned to be more like the rest of them.