I'm pretty sure you can still use gay in it's original meaning. I see it used quite often. Giblet? I only know that as the part of fowl and hadn't heard it used as anything else and could find no reference to gays in a brief search. Many English words have multiple meanings. I'd say go with what feels right in your writing.

Gay i BisexuaLEsbianTransgendered or whatever they are calling themselves nowaday. I now see a "Q" which I guess stands for "Queer" which used to be a bad word. Whatever happened to the idea that what one does in his/her spare time is his/her own business so long as he/she does not scare the horses? The sex-identity agitprop is coming up with more neologisms than the abortion industry, those great guys who came up with the phrase "products of conception". That means you and me, folks.

And not too soon. Now we have a new word: non-heterosexual. A little too long to come trippingly to the tongue. And does that include the asexuals as well?