As a gay male gamer, I do sometimes feel under-represented by the games industry. I explicity picked up Enchanted Arms solely because I'd heard it was one of the few games one could get in the West which actually had a gay character in - usually I wouldn't have even touched it, seeing as it was a classic example of an over-designed JRPG adrogyne-fest. When I was presented with this hideously camp tranny Makoto as the example of the gay character, I practically sacrificed the game to the hideous ichor-beasts of the infernal pit I was raging so hard. Thankfully he disappeared when The Bad Shit happened and I liked to think he died in some horrible fashion, although it's implied he actually becomes an awesome Mysterious Stranger to save the day. (If so then thank Christ his voice drops an octave when he does) Frankly, the game was horrible and flawed as a game without even getting on to how much of an aneurysm-inducer Makoto was, so I didn't play all the way through to find out if he did develop some redeeeming traits. Like testicles.
BUT! My point - and yes, I do have a point - is that this example serves two points.
1) People WILL buy games with gay characters in them, and indeed BECAUSE gay charcters are in them. I know, because I did.
2) Gay characters have to be more than flaming stereotypes if you want people to like them. I was offered Makoto and was apparently expected to be thanking Enchanted Arms for being so progressive and gay-friendly. "No," was my response. "No, I will not thank you for this monstrosity of a one-dimensional, uncharismatic cardboard cut-out." He was just a side-character, but he was a major deal-breaker for me because he was so irritating, nicely ruining pretty much any scene he was in with his whiny voice and shitty dialogue.
This being said, I really appreciate the option of the Fable series (I argue that Mass Effect lesbianism doesn't count since Asari are mono-gendered, and was irritated my Dude-Shephard couldn't go for Kaiden). I didn't have to take it, and usually didn't since there was no story reason or tangible benefit to it (other than one demon door), but it really did feel like it was a choice I could pursue.
I think RPGs should leave certain points up to the players, and romance is one of them. Unless it's somehow plot-important that the character be straight (ie "the Demon King has kidnapped your pregnant wife, go save her!") or gay (ie "the Demon King has kidnapped your inexplicably-pregnant husband, go save him!"), I think that's something for the player to decide for themselves, so long as the game is sculpted in a way to allow for variety, such as multiple potential romances.