This seems a very full analysis. I tend to find people zoom in on one or two 'explanations' but I think this covers a good selection, and it would be a really good read for people who either hadn't thought about the issue, or had settled too quickly for a single 'explanation'.

spacefall mentioned her excellent panel on 'gay women and straight men who like slash', which you would have enjoyed, shame you couldn't be there. I am still not convinced there are many of the latter (i.e. straight male fans), but there are obviously quite a few of the former (ie gay women fans).

For me a big issue is the ever-retreating, ever-elusive nature of desire. What you can't have is always more tempting, and m/m, almost by definition, is what one can't have. Perhaps for this reason I prefer hints and unexpected kisses on screen to fully worked out fiction (in many cases).