Language changes and evolves. I don't think that it means "feminine" as much anymore and is less paired to "gentlemen;" instead, I think most people use it as a drop-in replacement for woman, girl, etc. Similarly, "gay" has gone from "happy" to a self-describing word for homosexual men, to a pejorative, to a stand in word for "dumb" (man, that field-trip was gay), and now is more towards a non-negative way to refer to homosexual males. All that aside, I'll take the opportunity to reflect on my use of "lady" and I'll ask some of the woman I work with on the side what their opinion is. Thanks for the food for thought.

"Gentleman" is pretty common between male colleagues, 2c