There have been dozens, if not hundreds, of studies on this issue that debunk all of the common beliefs. One recent study, however, did find a positive statistical correlation between height and a negative correlation to body fat:
Folk beliefs suggest that penis size is related
to other physical traits, such as foot size, hand
size, height, and weight (Paley, 1999). Past research
with sizable samples has found penis size
to be correlated positively with height (Edwards,
1998; Ponchietti et al., 2001) and negatively
with weight (Ponchietti et al., 2001), but
in one small-scale study (Schneider et al., 2001)
it was found to be unrelated to age.
I KNEW there was a reason my genetics made me 6'6" tall! But even that statistical correlation is rife with exceptions, so a guy being tall just increases the odds that he may be hung, it doesn't guarantee it. Nor does it say that short men can't be hung, it's just statistically less likely. That study also found that:
... only about 2.5% of men possessed a
penis over 6.9 in. (17.5 cm) long (erect) ...
and that virtually all men overstate the size of their penises (now isn't that a shocker?) I can't tell you how many times I've arranged to hook up with a new buddy (found on the internet) who claims to have an 8 inch cock and when we actually meet in the flesh (err ... um ... so to speak) he can only find five or six inches of it. When I tell people that I'm 8 x 6 it's only an exaggeration of 1/8 of an inch in length and understating the girth by about the same fraction. 8 x 6 is simply a nice round number. But it seems that a majority of the male population claims that very size so when I MEAT up with someone new they are always shocked by my size. Guess you're not supposed to be honest.
If anyone is interested in the study I am quoting here, the full text can be found at:
http://dfred.bol.ucla.edu/LeverFrederickPeplau-2006PMM-PenisSizeSatisfaction.pdf