VV is a fucking comedic genius. I don't even like Wedding Crashers that much, but I watch it every time it comes on cable just to watch VV. I find something new about his perf every single time I watch. He is vastly underrated, imo.
As to him being gay, I don't think so. He does not ping my superiour gaydar in the least.
Janeane Garofalo was in a movie with him called
Clay Pigeons in the nineties.(Good, creepy movie btw. Also with Joachin Phoenix) A little while later she did a stand up show (for HBO I think) and talked about Vince quite a bit. She lavished him with praise and it was obvious to me she had fallen for him.