The study on homophobia you quote intrigues me because I worked at the University of Georgia during the time period of the study, and would have bumped into these guys on the street, on the bus, in the cafeteria... I find it interesting that the researchers had trouble finding exclusively heterosexual subjects who were NOT homophobic to some extent. Like all university towns, alternative lifestyles were more generally accepted at UGA than in the surrounding region; it was here that the B-52s and R.E.M. got their start, so you know there were plenty of high-visibility examples for students to experience. Could it be that the permissive local culture gave well-adjusted men permission to experiment, thus taking them out of the "exclusively hetersexual" pool? But then you have to wonder why a guy who has absolutely no interest in other guys would bother experimenting. Which means a permissive culture would just reveal the latent tendencies that already exist.
If undergraduate psychology students are representative of the general population (a dicey proposition at best) then it stands to reason that the proportion of male students who are both exclusively heterosexual and totally non-homophobic is very low. I wouldn't be surprised to discover if 2% of the male population is exclusively homosexual, that an equal percentage is exclusively and clinically heterosexual. What can we say about the rest? Obviously, that 95% of all males experience at least some arousal in the presence of aroused males.
But then, every woman knows that all men are sluts... But it does point out that a high proportion of the adult males in this culture are repressed in some way. And that can't be good from a mental health perspective, nor can it be good for society as a whole.