I remember chatting to Annie from Bad Squiddo a few years back about this subject, when she first started making 'Believable Female Miniatures' herself instead of just stocking other manufacturers. She was saying she doesn't mind the cheesy 'boobs out' or chainmail bikini mins every now and then, if it's a nice model and it's appropriate to the game she wants to play. On the other hand, when playing more historically based games or fantasy games without the cheese, she wanted to have access to appropriate female models for that too. As a painter I wouldn't be too happy being asked to paint overtly sexualised models because it's not what the hobby is about for me personally. I've painted topless female figures before, but the style was very much cheese-less with no sexual overtones or titillation (stop sniggering at the back) to it.