So Ginger Buchanan, editor in chief of Ace and Roc, told me that m/m can only work in print publishing as erotica, not romance. Her reasoning was that women will read m/m for the sexual thrill of seeing two men together, but when it comes to a story where the goal is a monogamous long-term relationship, they want to be able to place themselves in the story.
This doesn't happen to jibe with my own experience. I love romantic m/m and I identify better with a relationship when it does not entail a heterosexual power dynamic. I can actually place myself in the story more effectively when both characters are male. Maybe that's me. What about you? Do you prefer your m/m to be romantic or just about the sex?