What's in a word?

While trolling the internet, as you do, I came across a debate being held on American panel show The View (it's like Loose Women but with actual intelligent conversation).  They were discussing a hunting camp in the States that used the N-Word as part of the name, but when Barbara Walters used the word, panelist Sherri Shepherd had issues.

Have a look:

I can see both sides, of this, but my opinion isn't what I wanted to discuss here.  Rather, what is there actually to a word?

Sherri Shepherd is offended by a white person using the N-Word, and it got me thinking about the word faggot.  I'm not sure if I'm supposed to call it the F-Word, but I'm not going to.

I hate the word faggot.

It makes me feel physically sick.  I don't say it, I don't like other people (any other people) saying it, I don't even like reading it. 

But it's only a word.  So surely that makes this whole issue silly? 

I admire anyone who feels they can reclaim a word.  Comedian Scott Capurro (an openly gay man) is fond of using the word faggot.  A lot.  And similarly, rappers regularly use the N-Word in their raps.  Is that what we're supposed to do?  Are we reclaiming formerly discriminatory?  Are we supposed to use them?  If so, then I'm a bad gay; someone needs to revoke my membership, or at the very least, give me some kind of penalty point.

Is it liberating?  Do we somehow liberate ourselves from previous (and current) discrimination by using those names that were used to mock us and grind us down?  It doesn't make me feel liberated.  I don't feel that using a word like faggot can be positive, it doesn't make me feel good.  Don't misunderstand, it doesn't make me feel ashamed, but it's not a word I want to turn in to a positive. 

I'd like to leave faggot to the homophobes and remind myself that gay was originally meant to mean Good As You.