sounds like the use of the 'N' word, or 'fag' over here in the colonies. I use the latter, because I am one, and generally like to use it to diffuse the negative connotation (like the former is done by African Americans). Anyone that uses it around me better be authorized to use it, or use it explicitly in a correct form. Sorta like calling something gay. If a non-gay calls something gay, it had better be flaming gay or they will hear an earful from me.
I like the term poof/poofter. maybe because I'm such an anglophile that anything English sounds cool.