Sebastian wrote:

Well, what *about* the Tsubasa story, then?  I can't remember any
homophobic reaction there, apart from Ranma's anger at the end,
when he finds out that he unknowingly was competing and even
flirting with a boy.

The whole reason Ranma asked Tsubasa on a date was to cure what he 
saw as a perversion. Direct quote from the Viz manga translation:

"I'm just trying to lead Tsubasa onto the correct path."

So Ranma may not be homophobic, but he certainly doesn't condone it. 
Tsubasa definitely doesn't like it. 

Actually, homosexuality seems to be implicitly criticized throughout the 
series. When Shampoo hugs girl-type Ranma, Akane says, "What are you 
two *girls* doing?" In the Anime, when Ranma clings to Soun in the 
espisode where his fear of cats is exposed, Soun sweats a little and says, 
"Ranma, alternative lifestyles aren't my thing." Certainly I don't think 
anyone in Ranma would go out "gaybashing" as they so quaintly call it here 
in Texas, but homosexuality is definitely frowned upon in the 
Ranmaverse ­ heterosexuality is taken as a given. Which seems rather 
ironic as genderbending is one of the biggest story elements of the series. 
I guess cross-dressing and transsexuality are different than 
homosexuality. Any comments?

Jeremy

P.S., I promise my only goal isn't just to Spam the mailing list! I'm working 
on a fic in my scant spare time. Just give me a while... and don't prod! I'm 
a-goin' as fast as I can.