Eh... I have a love-hate relationship with dating sites.
Being gay, my options are.... well, more limited. It's different in that you go to places where gay men are you meet people through friends. The former involves bars and clubs, usually, which to me are even more embarrassing than dating sites and are also full of stinky old men. There are queer alliances, but the one at my school is so tiny (we're a commuter school) that it's barely worth mentioning. Even if I meet someone there, it could cause drama if we were to break-up and... yeah. It's just not a reasonable option. So, without involving a third party, it's either online dating, gay bars, and gay clubs.
So, that said, meeting people through friends is probably the best way, except for most of my friends are in the sciences and we are as every bit as awkward as the next guy. Plus, one of two things usually happens. The first being that the friends I connect with don't know many gay guys. Anyone else they would know is just "their other gay friend." The other thing that happens is stereotyping. I'm not going to go too far into the queer community's oddisms, but there is an odd fascination with labels. I mention I'm a geek, and boom, they try to connect me with some person who likes Glee. I said geek, not gleek. Doctor Who is more in the right direction, but is that the only thing geeky they watch? And... yeah, half the time, it's just them trying to sell their other gay friend.
So, by the end of the day, dating sites just seem like the lesser of the evils. But, it's full of issues up the wazoo. Most guys I like are either very horny or simply too damn shy. I've taken the initiative in the past, and usually get some sort of response, but the dynamic it creates is one where I'm expected to be the extravert and just... doesn't work. I hold a conversation as well as well as a spaghetti strainer holds water.
The end result is this: I keep it open as an avenue, since after all, something may come out of it. But, ultimately, I expect little of it.