As someone who fits the description in question I'll say this, I identify as "gay" because I'm by far more attracted to men physically, mentally, emotionally, etc. and see myself spending the rest of my life and raising a family with another man.
However I am attracted to female femininity, perhaps not in the same way as a straight or even a bisexual man would, but there have been times I've been attracted to the overall...for the lack of a better term, "essence" of certain women. With that said I can't find it within myself to have sex with a woman. Hopefully I'm making sense.
Sidenote: I remember this one time a female friend (a lipstick lesbian) and I got a little tipsy and made out. I don't know why but I was very turned on when she started tity-slapping in the face...
What can I say, the shit was hot, at least when I was drunk. LOL
But, let's all be clear I'm gay as hell!