I don't know bro...I'd say the act itself isn't gay so long as you & the other dude are totally hands off, except for maybe a hi-5 at the end. Hahaha!
I suppose I'd do it, so long as the chick wasn't my g/f, but that'd never happen. You know you're not gay (from what I've noticed), and as long as the other guy isn't, what the hell?