We examined both self‐reported and physiologically measured sexual arousal of male heterosexual and homosexual subjects to explore various parameters of sexual response in these two groups. Results clearly support previous work with these groups, demonstrating that films produce more arousal than either slides or audiotaped stimuli and that arousal to lesbian and male homosexual stimuli content were best able to discriminate heterosexual and homosexual arousal patterns for well matched groups of subjects. The previous finding that the correlation between the subjective and physiological measures is lower for male homosexual subjects than for male heterosexual subjects was replicated, but it was demonstrated that this result is a confound of the stimulus content employed. When the level of arousal, pleasantness of the stimulus, or quantity of partner preference cues was controlled, the group differences in correlation were no longer present. Finally, decreased sexual experience and information were found to predict, in both groups, lower concordance between self‐reported and physiological arousal. These results may clarify previous work which has indicated a relationship between the inaccurate tracking of physiological response and sexual dysfunction