Yeah, both Gwen and Peter were pretty ridiculous and dramatic towards each other. I actually quite like Gwen/Peter but they really were not ZOMG MEANT FOR EACH OTHER. (Aside: Gwen's dramarama is one reason that I actually found Sins Past to be plausible, Goblin-babies aside). That said, they were certainly emotionally devoted.
For some very strange reason, this generation of Spidey editorial and writers seems to have fixated on the idea of Spider-Man as a swinging bachelor ... Peter's "swinging" era lasted for, what, all of ten issues? And he was never very good at it. Mostly MJ or Gwen showed up in a pretty dress and dragged him to a party.
... Now that I think about it, can we blame this on John Romita Sr's art? I'm only half-facetious -- maybe everyone's fixating on that era in part because they see it as the "Golden Age" of Spider-Man romance and artwork. Of course, Romita Sr. was the artist for much longer than Peter's quote-unquote swinging period...