Hmm, let me try to add another 2 cents (Be warned, it is 11am, and I am very sleep deprived by this point. This could end up as total jibberish)
I am kinda forced into the middleground here, both sides of this argument are indeed making good points, but they also are being a little on the stubborn side.
On one hand, it is indeed an industry that when it began was almost completely a male dominated activity and while not to the same extent as back then, still is today. Just like many gamers will always consider some of the older games from back then to be better then many today (Metroid, Mario, Zelda for example) and a lot of developers are probably thinking along those lines. And lets face it, even if they got a Halo 9 or Gears 7, they will probably still sell, because people are predictable.
On the other hand though. It is about time that things started to equal up a little bit. I for one will never expect it to be a 50/50 but I am sure that gaming will, over time, slowly drift into a more neutral seat. There are indeed very few games where the female characters arn't some form of sex object or in a frigging fighting game, and lets face it, well over half of the characters said in this thread so far fall under one of those two, I mean hell, the princess in distress is probably more appealing than them (I'm looking at you Peach, and to a much lesser extent, Zelda) and even that is a poor excuse of acceptable female character use.
But to be truly honest, this isn't really a gaming issue. It's in TV, Movies, as well as other forms of media. Hell, even D&D is filled with this type of stigma, or do I need to crack a half elf joke to prove my point?
To summarize, While it IS an issue in today's gaming, as well as society in general. I do NOT think it is something that is worth a full on crusade, especially when it is mainly directed at the gaming medium.
Aaand it took me almost an hour to write that... Gonna go sleep or at least pass out before it actually ticks over to midday..