I thoroughly enjoyed this Louis C.K. interview on Fresh Air from a few days back. The most interesting part came when C.K. discussed the use of the word "faggot" in his routine. The question came after Gross played a clip in which gay comedian Rick Crom and C.K. get into a discussion. Crom gives a history of the word that may, or may not, be true. But his subtle point was basically that he wasn't there to clean C.K.'s comedy, but that C.K. should, at least, understand the history of the words he's using:
You might want to know that every gay man in America has probably had that word shouted at them when they're being beaten up, sometimes many times, sometimes by a lot of people all at once. So when you say it, it kind of brings that all back up. But, you know, by all means use it, get your laughs. But, you know, now you know what it means.