We have a male singer and we play a number of songs from the woman's standpoint. He's gay so he's happy to sing about men. It's less normal when he sings a song about loving a woman but he sees the singer's role as acting, where you tell the songwriter's story - be it male or female. As with Bob's band, sometimes he changes the lyrics, sometimes not.
I knew a woman vocalist who used to cover Gary Moore's "Walking by Myself". She sang the line "I just want to be your loving man" as "I just want to be your loving WOman". A neat sidestep.
If you heard this old Hunters & Collectors hit on the radio and didn't pay enough attention you'd be confused: http://www.youtube.com/watch?v=8pp6hniAKHw