I think he will be happier from now on, but I don't think the stupid questions on interviews will end, at least for a while. I'm sure now no one asks anything about the sexual orientation of Elton John, but this is a recent thing, so I guess he'll have more stupidity to deal with.
And actually he can!
I'm not saying this because I'm in denial... I don't have to be, because I never cared about his sexual orientation. Never interfered with the admiration that I have for him as an artist or person, but he actually can be bi. I guess there's more options than being gay or hetero. But in the end, that's all labels. If he's happy doesn't matter what it is.