Tranny is NOT GAY!
If you are running a link list, put a separate section for it. While there may be some overlap in the audience, you will more likely alienate your audience looking for more traditionally gay sex links.
I think its hard when designing for niches that don't personally appeal to you, and when thinking about gays & trannys its easy to just have a black or white notion of sexuality... but its not that simple!
Some men may define themseleves as straight and maybe only have heterosexual sex, but might find trannys sexually appealing. The same might go for gay men.
Then there may be some people who define themseleves as "transgendered" or "transexual"... these have different meanings and implications, so don't just assume.
I think your best bet is to keep your gay & tranny sites/links/whatever separate as they are very different niches...
Think if some guy is looking for the gay teen niche aka "twink" and he sees a big banner with tranny on it! He will close that page ASAP and move on.
Also, if you look at gay culture as a whole trannys tend to be pretty separate or at least on the fringes. (drag queens do not equal trannies!) The major gay video companies like Falcon don't do tranny videos... its not much of an overlaping market.
thats my cheap two cents
