Do older guys (40's) look gay with both ears pierced?

I wouldn’t say someone looks gay with both ears pierced. That’s to me more of a bohemian look. Or, an outdated 90s look. Depends on your style. 

I mean if I saw a man with his ears pierced I wouldn't think he's gay. The only thing that makes you gay is repeatedly dating members of the same sex. I myself have a 'lesbian' piercing and I just laugh when people ask if I'm gay [I have my right nostril pierced] 

Yeah I think maybe.

Anytime I see a man of any age wearing an ear ring of any sort, I almost always think they must be gay.

not if they also have a bushy beard and a peruvian chullo hat, then they look like poser idiots

Yes, all males with such look Gay to me.

Do you think you can generalize everyone based on gender, etc?

It's not a manly look for any age. 

Yes... it makes everyone look gay... that and purple or 

Pink silk shirts look really gay

Maybe, depends who is looking.