Yeah, there are definitely parts of it that seem to indicate a dream - the anagram thing you pointed out, the fact that it happens suddenly and ends suddenly without any attempt at explanation, the surreality of the whole premise.

I hadn't thought about the Freudian interpretation, but it makes sense, too... especially with the way Kolyakov keeps bringing up the women he has been courting, and then after regaining his nose, is even less inclined to marry and settle down. One could indeed argue he's somewhat emasculated while his nose is gone.

Yeah, as he said in that final paragraph... the closing lines about how stories like this do happen in Russia occasionally, does seem to suggest some kind of analogy or deeper meaning.