Misconception: Nietzsche was German.
Even though he was born in Prussia, Nietzsche actually had his citizenship annulled. Turns out that he was a proud Pole. (Paging PolishOrNotPolish.com!)
Misconception: Nietzsche was a nihilist.
Although Nietzsche is often named as one of creators of nihilism (it's not even an ethos!), there is evidence that he was actually a proponent of ANTI-nihilism late in life. Go figure.
Misconception: Nietzsche was a antisemite.
Obviously, the whole "God is dead" maxim speaks against the Judeo-Christian ethos (there is that word again). But Nietzsche called antisemitism "despicable" and was adamant in his support of Jews (no, he wasn't Jewish himself) and his opposition to goyishe nationalism.
Misconception: Nietzsche was gay.
We're not gonna touch that one...