For some people the "priesthood of all believers" is an anti-clerical battlecry that, in its extreme, can eliminate the need for clergy and their unique role in the life of our church and society.
It’s not unlike the rebellion of Korah (Numbers 16), when Korah challenges Moses’ authority by saying, "You have gone too far! All the congregation are holy, every one of them, and the LORD is among them. So why then do you exalt yourselves above the assembly of the LORD?" (Num 16:3). For Korah (and so many anti-clerical, mistaken Lutherans), if "all … are holy … and the LORD is among them," why do we need clergy to tend to holy things?
Well, I’ve only glanced at it (I’m watching the suddenly interesting Pittsburgh-Indianapolis AFC playoff game, and I’m sleepy), but here’s a lecture from Tim Wengert on the topic of Luther’s understanding of the priesthood of all believers. Want a quick summary? Only read the lecture’s title: "The Priesthood of All Believers and Other Pious Myths."
Thanks to Chris over at life inbetween for this link. I’ll write more about this essay in the next day or two.