Guys: Do looks really matter (on a girl)?

Yes. But, ugly and attractive is all a matter of opinion. You mention that someone might have a hot body but an ugly face, well that's your opinion. Some guys might think she has a beautiful face. One thing I've noticed is that guys and girls have a big difference of opinion when it comes to what is attractive in a woman. If there was a list of the top 50 hottest women according to girls, and a list of the top 50 hottest women according to men. Those lists would be totally different. From what I've learned on this site, is that a lot of women think Megan Fox is ugly. But most guys think of her as one of the top 10 hottest in the world.