Face of the Band: Averted...partially. The Visual/Face position in K-Pop's this in a nutshell; get the most good-looking member, focus on them in music videos or group commercial films, shift them into acting, etc. They're the promoters made to reel in fans by being very appealing to the eye and they would mostly be the center in photos. Sometimes it works too well to the point that members get overshadowed. In INFINITE's case, while L is extremely popular, the rest do not fall behind in obscurity and actually have their own individual activities.
Ho Yay: Most "official pairings" of INFINITE are full of these, at least for fangirls. L/Sungyeol, L/Sungjong, Woohyun/Sungkyu. It helps that South Korea has an acceptable and affectionate level of male closeness allowed (though there's still rejection on actual homosexuality), unlike what would happen if this was done in the Western side of things. Note that they also do it for the sake of Fanservice.
Launcher of a Thousand Ships: L. Good lawd. He's shipped not only with his members and his other idol male friends, but on the Het side he has Myungstal (Krystal from f(x)), Myungzy (Suzy from miss A), Myungeun [Naeun from A Pink], Myungyeon [Jiyeon from T-ara]. He also has been put with Lizzy from After School (they are good friends however), Yoona of Girls' Generation, Sohee from Wonder Girls, recently Yoo Ara from Hello Venus, Hyosung from Secret, etc.
Note that he has only expressed interest in Gyuri from KARA, who he had a crush on, and Japanese actress Inoue Mao, who he stated represented the perfect visual of his ideal type, more so in her role for Boku no Hatsukoi o Kimi ni Sasagu [I Gave My First Love To You].
Krystal as well. He seemed quite smitten with her when he did the Elite uniform CF interview, expressing loss of words and proclaiming she's beautiful after being asked how it was like working with her in a photoshoot. They are also in the midst of Korean dating rumors/gossip by netizens, though there's no proof.
Shipping: Yes, fans ship idols together, fanfiction and all. It's almost comparable to Actor Shipping. And it's just as bad.
Signature Song: It seems to narrow down to either Be Mine or The Chaser.