I showed my biology professor the posts in this thread, and it elicited a chuckle from him. I asked his opinion. The following is based on what he told me.
There is no solid evidence that pheromones are emitted through perspiration. The main transmission of male pheromones in lower mammalians seems to be through urine and directly into the environment. If male pheromones do affect female sexual response, it most likely has nothing to do with sexual desire. Let's take the wolf, for example. When nature alerts her that it's optimal time for breeding, she will be receptive to her mate's advances ... and only those of her mate, not a random wolf she picked up at some singles bar. The male feels need for sexual gratification; he personally doesn't care whether or not he knocks up Mrs Wolf. He'll provide for the offspring, but fatherhood was not his driving force. The female wolf's main objective was reproduction. She may feel sexual pleasure during the act, but that's not her priority. She feels the biological need to propogate the species. The male pheromone might alert her to the mate's presence, but it does not 'arouse' her sexually. And a male pheromone that corresponds to the type of pheromone she emits is completely unnecessary: the female wolf does not pursue the male. He will seek her out.
On the subject of the smell of male human sweat: if this were a pheromonally produced response, we should expect a more universal effect. Some women do find clean sweat appealing, but how many guys here have heard, "don't touch me until you've had a shower"? Do we assume these women are immune to the effects of pheromones? The more likely explanation of the appeal of the scent of sweat is personal preference, not pheromones.
Having said all this, I think we'd all agree that 17's slapping on some cologne is hardly akin to emitting pheromones. And I hardly think that smelling his natural body odour causes women to lapse into paroxysms of sexual desire and begin ovulating like crazy.
These supposed 'pheromone' formula fragrances are probably a waste of money except for one thing: if a man uses it and thinks he has 'science' on his side, it might instill in him a sense of confidence. I think most of the women would agree that a man's self-confidence is sexy.