I think if we can accept Malekith sleeping with his mother in Warhammer, then the notion of someone in a wargaming fictional universe being gay would be a minor footnote. As other's have said though, it would be dependent on the story being about the setting and a pertinent story rather than focusing on the sexuality or devolving into an attempt to shock with badly written erotica.
Perhaps my favorite comic team are The Authority and two of the characters, Apollo and The Midnighter are in a gay relationship. It's well written and drawn and I've never had the slightest problem with the lifestyle choice of the heroes who are busy tearing the arms and legs off neofacist space demons.
Similarly, Devlin Waugh, a popular 2000ad character (the only character in that esteemed comic's long history to knock Dredd off the number 1 popularity spot), takes all the gay stereotypes, campy humor and rolls with them. Great character, very funny without being insulting to gay or straight people.
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