what is actually depressing about the presence of homosexuality in games is that almost every time it's going to be a flamboyant, over-the-top character. As if his sexual preference IS his defining trait... there is no shade of gray here, either the guy is asexual (Halo style) or straight (pick any game)... or a flamboyant gay that speaks in high pitch and wears make up. Come on, it's people we talk about, not cardboard cutouts.
For me the only game that I've played that actually presented a rather serious approach to homosexuality/transgendering was Persona 4, where one male character of the party is completely insecure about his sexuality and while acting up on front of people tried to appear "macho", but deep down he was attracted to men (extra points for the developer for not using "you are just confused card" in a way that derails the character. He accepts his ambiguity and ends up as an openly bisexual character); and one female character that is so frustrated by how the society expects her to behave as a woman that she actually feels that she was born with the wrong gender and dresses and acts as a man (at the end depending of your relationship with her she either falls in love with you or you help her to become openly gay).
The thing is, characters should be like that, more like people, that have thoughts, feelings, emotions and inner conflicts. Even if it's not part of the history itself it would be nice to see more characters who have their sexuality as part of their personalities and not as a means to produce shock/Fanservice/sex sells kind of things, both straight and gay.