"My opinion, as I've expressed in other threads, is that people should cosplay whatever, however they want as long as it's not outright offensive by a reasonable person's standards."
This, exactly. I agree whole-heartedly.
As long as the person isn't prancing around in near-nothing, the gender-bending should be a-okay. Although, I do know people who frown upon 'female versions' and dub it with the name 'weaboo.' Which I don't understand at all, people can cosplay whatever they feel like, just leave them alone. Personally, some gender-bending cosplays turn out really spectacular when there's a design and effort put into them.
I'm definitely a supporter. :3
Zelda - Skyward Sword
Morgana the Fallen Angel - League of Legends