I recommend everyone go read this article which was posted over at Gamasutra about how Activision, the company that brought us Guitar Hero, views female characters. It's an interesting read and after looking over it and the titles that Activision has put out I have decided to boycott their products.
Honestly, I don't recommend reading the comments. There is little productive conversation there. But if you will bear with me, I'm going to put in my two cents. Yes, Activision has every right as a company to decide that female leads in video games are too big of a financial risk. That is their prerogative as a corporation who must satisfy investors. However, as a consumer I have every right to decide NOT to purchase their products based on these practices and instead support game developers who don't look at female characters as liabilities and encourage others to do the same. Only by putting our money where our political ideals lie can we change the gaming industry. If people purchase good, solid games with female leads companies will discover that a vagina is not a liability and will be encouraged to make more.
I encourage everyone to look at the evidence available regarding this and make your own decisions about where you put your money.