Yep, Northstar has been openly gay for quite a while.
I remember the raging debates in the Hulk letter's columns back in the 1990s, when Peter David was on the book, discussing this subject. Mainly from the perspective that early-90s comic readers didn't want no damn gays in their funny books!
Peter David now gets to use a number of gay or bi-sexual characters in X-Factor.
Marvel had a policy that they would not allow any gay characters in their books during the 1980s-1990s, which is why Bill Mantlo had such a hard time writing Alpha Flight. He wanted to make Northstar gay, and he kept hinting at it, but Marvel editors wouldn't allow him to come out and say that Northstar was gay.
Of course there is mainstream comics first gay character (actually bi), Paradox (created by Bill Mantlo) from the obscure pages of a late-issue of the Marvel Preview magazine.
I'm sure a few gay characters turned up in the Milestone comics.
So far, Northstar has been like Marvel's token gay character.
I just hope they decide to try to do this naturally for once. If you create a character who is also gay, remember this fact...he is a character who is also gay. He's not a GAY CHARACTER. Don't make a character gay just for the sake of him/her being gay!
Shazam is a hilarious choice though.
Some people who are going to be very happy though:
http://www.gayleague.com/wordpress/
Maybe they won't have to grasp at so many straws anymore.
Hey, if the zealots came out to protest Superman giving up American citizenship, and a "black Thor" appearing in the Thor movie (I still have no idea what that was about...), I'm sure they'll be all upset about this too.
Also, I remember the internet comic community getting in an uproar over the revelation that Shatterstar was bi. "That character was not created to be gay by his creator. This is disrespectful, and must not stand as a part of continuity." What about the fact that the character was created as a crap character by his creator?