I've seen a lot made of this story, but when I heard it, my first responses was, "Oh. So?"
But I guess it's a revelation to those who scrutinize the Potter series and now wonder if Dumbledore is a pedophile warlock.
I don't know if the books are different from the movies, but Dumbledore seems like such a non-interesting character. Maybe the gay revelation was meant to put some more interest in this basically flat character.
I think what this basically does is re-confirm for the Jesus Camp crowd that HP is evil, and that Leviticus 20:27
must be adhered to:
"A man or a woman who is a medium or a wizard shall be put to death; they shall be stoned with stones, their blood shall be upon them."