Cheesecake art is part of the fantasy genre. I game with more women than men, and none of them are overly offended by the art and style of fantasy and pulp. For instance, I ran a Hollow Earth Expedition game and everyone thought it was great fun when I described an attack as 'slashing across her stomach, convienently exposing her midriff', or when the bombshell spy got snatched and carried off by a giant ape, Fae Ray style.
I think it all has to do with the style that you're in. In a pulp game like HEX, or a fantasy world with the sensibilities of Conan, some exposed flesh for the sake of exposed flesh is to be expected. Now if its something grittier, like Obryn was talking about with Warhammer Fantasy or something like Song of Ice and Fire then it would be more out of place.
To be perfectly honest, I don't really care about getting 'more women' into gaming. I want to get more people into gaming, and get those people to be better at it.