I mostly look at people who use faggot as an insult to be either immature or mentally inept. I don't need to go into some stupid rant about it that ultimately makes me look like I have a superiority complex. (Granted, I'm not into dudes either, but eh.)

That said, I have used the phrase, "that's gay." in mild annoyance to describe something that I perceive to "suck" or whathaveyou. Of course, it's not coming from any place of hate, and any sane individual would see that.

Thing is, if you have such an issue with something so minor, it's a problem with you.