Personally, I don't like it. It took me a while to adjust to even gay people using it, though I've built up a tolerance to it. I can't stand straight people using it. Ever. When I hear it from someone at college I automatically assume they're an ass, and I get a fairly violent gut response. If someone's straight and they want to call someone a ->-bleeped-<-, I'm not going to attack their vocabulary, but it will negatively affect how I feel about that person. People just have to be aware of that. I'm half ->-bleeped-<-, they'd better watch how they're using that term.
I don't think ->-bleeped-<- is ever an acceptable term, though if that's how someone identifies, fine.
