Cable TV is finally coming out of the closet. On Feb. 17, 2005, MTV Networks will launch LOGO, a basic-cable channel with a round-the-clock roster of gay-friendly programming. (Already in the vault: at least 100 films, including ''Gods and Monsters,'' ''Thelma & Louise,'' and ''The Birdcage''.) LOGO won't reveal its full lineup until July, but the channel claims to already have more than 40 original programs in development. Aside from trying to profit from the success of homo-heavy shows like Bravo's ''Queer Eye'' and Showtime's ''The L Word,'' why launch now? ''It's like having a baby -- there's never a perfect time,'' says MTV Networks prez Judy McGrath. ''But the gay and lesbian community has had a pent-up desire for its own home base. Everything has finally come together to give them that.''